Shiba Inu panics over all the counters! Its price literally exploded with + 60% over the last 7 days and + 550% over the last 20 days! But in the shadow of this “dog” bull run, another cryptographer has exploded for weeks. Its performance is very close to Shiba Inu. What is that crypto? It’s all about crypto Secret (SCRT).
What is Crypto Secret (SCRT)?
If the mechanisms behind Crypto Secret are complex, its basic idea is easy to understand. Below are the key principles that make Secret a worthy crypto.
The Basics of Understanding Crypto Secret (SCRT)
If you know a little about the crypto field, then you are a little familiar with the so-called “ blockchain “. You probably know that blockchain is a kind digital public ledger showing transactions. The biggest advantage of blockchain is enabling secure peer-to-peer transactions. Blockchains use different algorithms. For example, Bitcoin blockchain uses a very common algorithm called “Proof-Of-Work”.
If blockchain is secure, then is it anonymous? The answer is no! As mentioned above, this is a public registry! Specifically, it means it everyone can access transaction information. You do not have to be an experienced developer to do this; the information is available on the internet.
In fact, we can access the amounts of transactions and public addresses on the wallets in games. It is also possible to know how many bitcoins an address has. That is also why we can easily detect so-called “whale” movements (addresses that have many cryptocurrencies). Their movements are closely followed by investors as they generally have an impact on the markets.
Why is blockchain’s lack of data protection a problem?
At this point, you might think that the most important thing is safety. It is true that from this point of view, blockchain (Bitcoin or otherwise) plays its role well. However, security without data protection poses a real problem. Why ?
Let’s take an example. Let us imagine that the blockchain in question is used for decentralized exchange of medical data. You certainly do not want everyone to have access to such data! Or let’s imagine a blockchain that allowsaddress exchange decentralized to an Uber-like transportation system. Again, you certainly do not want everyone to have access to your address.
Finally, consider the example of a crypto exchange. With current blockchains, it is possible to see orders placed by investors. This produces a perverse effect called “front-running”. For example, if a trader sees a lot of sales orders coming in, he knows that the price of the crypto will then fall. As a result, he will place his sales order. And to make sure his order goes before the others, he will pay a significant fee.
Why is Crypto Secret (SCRT) special?
Crypto Secret intends to address this issue with lack of data protection on blockchains. If you know a little about the crypto field, you might think that Secret is not alone in this niche. And it’s true!
Monero and Zcash are two well-known cryptocurrencies that guarantee anonymous transactions. But Secret goes much further! In fact, Secret is a blockchain (Secret Network) that allows you to create decentralized applications, manage NFTs, run smart contracts, all anonymously!
In fact, to sum up, we can say that Monero and Zcash are equivalents to Bitcoin in an anonymous version. Crypto Secret isequivalent to an anonymous Ethereum.
Another interesting aspect to know concerns the founders of Secret. The Secret crypto was created in February 2020 by the Enigma developer group. Its CEO is Guy Zyskind, a graduate of the renowned MIT University. Suffice it to say that behind the secret there is something heavy! At a time when meme corners abound, it’s more important than ever knows the founders of judging the credibility of a crypto.
The Secret Cryptocourse (SCRT)
If the crypto secret has nothing to do with Shiba Inu based on its credibility, there are similarities at the course level! In fact, the price of Crypto Secret has exploded in recent months. Thus, the SCRT has the crypto price increased by more than 300% over the last 30 days. Over the last 60 days, the price has made it even better over 420% !
This dynamic is still ongoing. The price of the SCRT train more than 9% in the last 24 hours. By the way, the crypto secret has just established one new ATH on October 26, 2021 with a course of $ 9.66.
At the time of writing, the Secret crypto price is very close to $ 9. In terms of capital letters is Secret 86th crypto to the world.
The bull race seems to correspond to the period forSupernova implementation. This is a very important milestone that will enable the Secret blockchain to connect with other blockchains through the Cosmos ecosystem. The implementation of this development should be completed by 9 November.
Crypto SCRT has many positive aspects. It rests on a solid foundation and pursues a real and useful goal. There is no doubt that the crypto secret is not done talking about it!
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