An open and sustainable internet is the main goal of any blockchain; however, most of these networks make it possible by exposing all your data to everyone.  A good internet should in reality protect data and it should ensure data privacy. 

The internet should provide users and organizations with control over their data by providing them with the details of how their data is used and shared.

The Secret Network offers to solve the privacy problem by offering to secure and scale the decentralized web. Secret Network claims to be the first blockchain which will support encrypted inputs and outputs and therefore making it possible to provide an encrypted state for smart contracts.  The network thus makes it possible to provide powerful decentralized applications, therefore, helping in the process of unlocking substantial value across different verticals and industries. 

The Secret Network is looking to cover for several industries like Decentralized Finance, Data Sharing, Machine Learning, Healthcare Industry, and Gaming Industry.

Computers which are the nodes of the secret network are known as Trusted Execution Environments (TEEs).  These computer created trusted environments are used to enable secure and private computation over encrypted data.

The TEEs work like the black box for data processing.  The data processing facility provided by the TEEs are used by everyday platforms like smartphones and video game consoles.

CosmWasm smart contracts that are written in Rust programming are used to build the Secret Apps.  The Secret Network is based on Cosmos SDK / Tendermint.  This means that the Secret Network have their own independent consensus and on-chain governance and features like delegation and slashing.  Secret (SCRT) is the native coin of the Secret Network.

For transactions and governance on the Secret Network SCRT coin should be staked in the network by network validators.

Secret Smart Contract Network Flow

The Network flow of the smart contract on the Secret Network can be summarized as progressing from writing the smart contract and deploying them on the network, then users submit the encrypted data on to the network.  Since the data is encrypted nobody else will be able to read that data.  Even the nodes doing the computation will not be able to read the data.

The computation is done by the secret node in the network which will do the computation and the results will be returned.  After due verification, the payment is released to the node which performed the work.

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