Secret Network announces Decentralized Confidential Computing (DeCC) for Web3

Secret Network is engaged in efforts to implement decentralized confidential computing (DeCC) across the entire Web3, thereby enabling applications to utilize the decentralized capabilities of virtually any Blockchain. 

Recently, the first mainnet Blockchain with private smart contracts, Secret Network, launched the Confidential Computing Layer (CCL). It serves as a compatible tool for facilitating communication between applications on different Blockchains and contracts on the Secret Network for conducting confidential computations. This paves the way for applications that house encrypted data, distinguishing them from traditional Blockchains where all data is public.

Secret Networks’ core competency resides in the capacity to create applications that safeguard encrypted data, which deviates from the prevailing practice of public data storage in the majority of Blockchains. This opens up possibilities for popular Web3 applications like DeFi, NFTs, DAOs, and more. Many developers have also shown keen interest and have further predicted a rise in the price of the in-house tokens $ATOM and $SCRT. 

In June 2023, Secret unveiled “Privacy as a Service”, which extends computing services to other Blockchains through cross-chain communication. This announcement introduced cross-chain application concepts and collaborated with the Axelar network to establish seamless message exchange between Secret and various EVM chains. However, as predicted by Secret Network, refining and documenting this chain of confidential computing concepts would require additional time.

The developers behind Secret Network have been working tirelessly to improve its CCL. They currently support over 10 EVM Blockchains, offer comprehensive documentation to guide developers on how to make the most of them, and allow virtually any EVM and IBC chain to connect to them. 

In the coming months, Secret Network plans to integrate its CCL with new Blockchains and announce partnerships with each of them to raise awareness and provide customized support for their ecosystems. Their goal is to attract developers during this process, introducing them to the exciting opportunities that confidential computing can bring to Web3.

Simultaneously, Secret will enhance its CCL capabilities by incorporating cross-chain messaging technologies like Wormhole, Union, and Composable. This will enable Secrets CCL to expand its reach to Blockchains like Solana, Aptos, and NEAR. 

This expansion enhances Secret’s reach and provides developers with increased versatility in formulating cross-chain strategies. Secret Network intends to offer an extensive selection of tools that streamline the development process to the greatest extent possible. In addition, it will continuously develop new cross-chain application examples accompanied by comprehensive tutorials and documentation for each one.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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