Crypto

Secure Crypto Token (SECR) Emerges to Revolutionise Data Privacy Alongside Monero (XMR) & Ontology (ONT)

04/02/2022
Bitcoin Ethereum News

Web 2.0 and the consequent arrival of social media changed our relationship with both ourselves and other people. The ability to create highly personalised online profiles means that we can learn everything about our date before going on the actual date, portray ourselves in a particular way, and be shown adverts for products we thought we were only thinking about. Yet the Facebook-Cambridge Analytica scandal in 2016 demonstrated that this was merely one side of Big Data’s vast shadow – not only can our data be highly personal and specific, but it can also even be utilised to persuade us into making certain decisions.

Since entering the era of Web 3.0, some cryptos have tried to address the issue of data privacy, as it remains an important and relevant topic today, especially in light of blockchain’s growing popularity. Cross-communication between different platforms will be a key factor in overcoming the limitations of Web 2.0 as we transition to Web 3.0. However, in order to access certain products, services, and content, users still need to prove their identity online. As a result, massive amounts of data will be generated and stored on blockchain networks.

While data stored on the blockchain is far more secure than data stored on centralised servers, Web 3.0 platforms will gradually mimic the characteristics they were designed to disrupt and replace if no full-proof data security solution is in place. Let’s take a look at how Monero (XMR), Ontology (ONT) and newcomer Secure Crypto Token (SECR) aim to solve the issue.

Monero (XMR)

With an immense market cap of around $3 billion, 1 XMR is currently worth $181.99. In terms of 24-hour trading volume, Monero (XMR) is down almost 30%.

Monero (XMR) chose not to have a limited supply for XMR because it was one of the first altcoins that didn’t rely on Bitcoin’s (BTC) code. Unlike other privacy coins, it incorporates privacy into the protocol rather than making it an optional feature or relying on the development and addition of a second layer.

Monero’s (XMR) privacy features distinguish it from competitors not only because they are not optional, but also because of the ways in which they conceal the sender, receiver, and even the amount being sent. Monero’s main privacy features include Ring CTs, stealth addresses, bulletproofs, and Dandelion ++, whereas Zcash (ZEC) primarily uses zero-knowledge proofs, among other features, to add privacy functionality.

Monero (XMR) makes no attempt to follow know-your-customer/anti-money laundering (KYC/AML) procedures and prioritises privacy. This has resulted in it being delisted from a number of exchanges, including BitMEX and Kraken, and it has also landed it in the crosshairs of many financial regulators around the world due to its casual disregard for customer due diligence measures.

Ontology (ONT)

Ontology (ONT) boasts a market cap of approximately $480,000,000, and its trading volume over the past 24 hours is up by an impressive 44%.

Ontology (ONT) is a project that uses decentralised identity and data solutions to bring trust, privacy, and security to Web 3.0. It is constructing the infrastructure to provide trusted access to Web 3.0, allowing individuals and businesses to rest assured that users and their privacy are prioritised through regulatory-compliant digital identity solutions.

Ontology (ONT) believes that enterprise blockchain technology can benefit most businesses in terms of efficiency and security, particularly for identity and data-based use cases. Ontology (ONT) offers a specialised distributed data exchange framework to drive more user-friendly and efficient onboarding for a wide range of businesses and organisations, in order to overcome blockchain’s often time-consuming and cost-prohibitive nature. This framework enables enterprise clients to securely, transparently, and cost-effectively transfer and exchange data.

Ontology also has its own dual-currency system. The staking tool is Ontology Coin (ONT), and the time and cost of staking, as well as the operating costs of the nodes, are considered inputs. Ontology Gas (ONG) is a value-anchoring toll mechanism for on-chain applications that makes on-chain transactions easier.

Secure Crypto Token (SECR)

Secure Crypto Token (SECR) is currently in its presale stage, but its goals and vision are already causing a stir in the crypto space in anticipation of its upcoming launch.

Secure Crypto (SECR) would be entirely blockchain-based, allowing the creation of decentralised communication platforms. It will give the end-user more control over information, privacy, security, and utility. The token’s value is determined solely by the ecosystem’s services, size, transaction volume as well as messaging volume.

Providing valuable content will earn you Secure Crypto Tokens (SECR) that can be redeemed for more exclusive features on the platform. Secure Crypto Tokens (SECR) is directly linked to their underlying application’s value to enable the platform to value its premium services accordingly, thereby maintaining a strong and stable network.

Specifically, the SECR token can be used to initiate communication with or invite new users to the network. In addition, it allows users to monetise any anonymously produced content and pay for any extra premium features that the Secure Crypto (SECR) app may provide.

Secure Crypto (SECR) allows users to earn tokens by engaging in the following activities: sharing or reposting content, generating content frequently or on a regular basis, creating valuable content, achieving milestones, logging in on a regular basis, providing feedback, responding to notifications quickly and referring people onto the platform. While we all do this across various social media platforms for free, Secure Crypto (SECR) wants to compensate users for contributing to the network.

Learn more about Secure Crypto (SECR) at:

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Source: https://www.thecoinrepublic.com/2022/04/02/secure-crypto-token-secr-emerges-to-revolutionise-data-privacy-alongside-monero-xmr-ontology-ont/