An assessment of Secret Network’s privacy preserving properties

1. Introduction to the Secret Network: Privacy is a fundamental Human Right

  • privacy is important on public permissionless distributed ledgers (blockchains);
  • how public permissionless blockchains evade privacy by design and
  • how we could fix this major flaw.

Why do we need privacy on Blockchains?

Why do we need privacy preserving blockchains? Secret Network’s claim.

2. Overview of Privacy Preserving Technologies Implemented by the Secret Network

1. Privacy-preserving smart contracts

2. Cross-chain privacy tokens

3. Ethereum bridge

4. Interoperability with the Cosmos Network ⚛️ ecosystem

5. Interoperability with heterogeneous blockchains through Cosmos’ IBC

The Secret Network’s privacy enabling properties could further increase the value of an ecosystem of inter-connected/inter-operable blockchains.

6. Tendermint Consensus Byzantine Fault Tolerance (BFT) delegated Proof-of-Stake (POS)

7. Secret Oracles

  1. On-chain: There needs to be some deterministic process in which validators choose a single validator that would serve as the Oracle for a given block, or a given transaction. Ideally, Oracle calls would be called in the beginning of the block (and therefore need to be known a-priori). The most natural choice would be to have the current leader/block proposer do this part. Then, oracle results could be sent as inputs to the contracts that need them.

8. Secret NFTs

9. Secret AMM

Roadmap

Source: https://twitter.com/secretETH

Closing Remarks

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A Cøsmos pleb.

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Johnnie Cosmos

Johnnie Cosmos

A Cøsmos pleb.

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