On January 19, The Secret Network (SCRT), a decentralized
blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term protocol, announced $400 million in ecosystem funding as part of growth initiative, Shockwave, which is aimed at establishing Secret Network as a critical pillar and data privacy hub for Web3. SCRT Labs, the core development team behind Secret Network, announced that several top-tier investment companies have acquired SCRT positions and recently joined the Secret ecosystem as critical stakeholders and participants of the ecosystem funding. Such top-tier investment companies include HashKey, CoinFund, Alameda Research, and DeFiance Capital.
Besides that, the company announced a new $225 million ecosystem fund contributed from 25 existing ecosystem investors and partners who share the similar vision of expanding Secret Network’s applications layer (including DeFi and NFTs), tooling, and network infrastructure.
Secret Network also announced its $175 million accelerator pool (funded in SCRT) that is designed to offer non-dilutive capital, ecosystem incentives, and grants incentives to rapidly expand its user adoption.
The companies that recently acquired significant SCRT holdings and made contributions to the Secret Ecosystem fund include HashKey, CoinFund, Alameda Research, and DeFiance Capital. These firms will work together with the Secret ecosystem to drive adoption of privacy-first web3 technologies as part of efforts to unlock the true potentials of the decentralized web.
How Secret Network Is Transforming Digital Finance
The development by the Secret Network comes at a time the company is committed to support
smart contract
Smart Contract
A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist each time a song is played on the radio. The contract detects when the song is played, and then automatically sends a payout to the artist or artist. All parties involved in a smart contract must agree to the terms of the contract before it can be executed. They must also consent to any changes made to the contract. Transactions made through a smart contract are traceable and irreversible.Smart contracts were first proposed in 1994 by American computer Scientist Nick Szabo. Szabo created a digital currency called “Bit Gold” in 1998, over 10 years before the creation of Bitcoin.Benefits of Smart ContractsMany proponents of smart contracts point to many kinds of contractual clauses that could be made partially or fully self-executing, self-enforcing, or simply both. Conversely, smart contracts can lead to a situation where bugs or including security holes are visible to all yet may not be quickly fixed.The fundamental goal of smart contracts is to provide additional layers of security that are superior to traditional contract law. In doing so, this reduces other transaction costs associated with contracting. Smart contracts appear most prevalently in the cryptocurrency space, having implemented countless instances of smart contracts.
A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist each time a song is played on the radio. The contract detects when the song is played, and then automatically sends a payout to the artist or artist. All parties involved in a smart contract must agree to the terms of the contract before it can be executed. They must also consent to any changes made to the contract. Transactions made through a smart contract are traceable and irreversible.Smart contracts were first proposed in 1994 by American computer Scientist Nick Szabo. Szabo created a digital currency called “Bit Gold” in 1998, over 10 years before the creation of Bitcoin.Benefits of Smart ContractsMany proponents of smart contracts point to many kinds of contractual clauses that could be made partially or fully self-executing, self-enforcing, or simply both. Conversely, smart contracts can lead to a situation where bugs or including security holes are visible to all yet may not be quickly fixed.The fundamental goal of smart contracts is to provide additional layers of security that are superior to traditional contract law. In doing so, this reduces other transaction costs associated with contracting. Smart contracts appear most prevalently in the cryptocurrency space, having implemented countless instances of smart contracts.
Read this Term programmability and advance DeFi features. The firm is working on empowering entrepreneurs, artists, developers, and crypto users through a combination of its unique business model and proprietary technology. The company is recognized as one of leading DeFi-capable blockchains to focus on privacy. This year, the Secret Network drew wide attention when it announced that Quentin Tarantino, a renowned US filmmaker, to release seven never-before-seen clips from the popular film Pulp Fiction. Such an announcement drove attention to both the Secret Network and the entire NFT (non-fungible token) market. It also assisted in cementing Secret as a top-performing NFT launch space. Currently, the Secret Network attempts to address several problems. First, the company helps to drive Web3 adoption. The blockchain network also uses a simple interface and wallet to enable users to create NFTs and other digital assets without the need of having to acquire technical experience.
On January 19, The Secret Network (SCRT), a decentralized
blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Read this Term protocol, announced $400 million in ecosystem funding as part of growth initiative, Shockwave, which is aimed at establishing Secret Network as a critical pillar and data privacy hub for Web3. SCRT Labs, the core development team behind Secret Network, announced that several top-tier investment companies have acquired SCRT positions and recently joined the Secret ecosystem as critical stakeholders and participants of the ecosystem funding. Such top-tier investment companies include HashKey, CoinFund, Alameda Research, and DeFiance Capital.
Besides that, the company announced a new $225 million ecosystem fund contributed from 25 existing ecosystem investors and partners who share the similar vision of expanding Secret Network’s applications layer (including DeFi and NFTs), tooling, and network infrastructure.
Secret Network also announced its $175 million accelerator pool (funded in SCRT) that is designed to offer non-dilutive capital, ecosystem incentives, and grants incentives to rapidly expand its user adoption.
The companies that recently acquired significant SCRT holdings and made contributions to the Secret Ecosystem fund include HashKey, CoinFund, Alameda Research, and DeFiance Capital. These firms will work together with the Secret ecosystem to drive adoption of privacy-first web3 technologies as part of efforts to unlock the true potentials of the decentralized web.
How Secret Network Is Transforming Digital Finance
The development by the Secret Network comes at a time the company is committed to support
smart contract
Smart Contract
A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist each time a song is played on the radio. The contract detects when the song is played, and then automatically sends a payout to the artist or artist. All parties involved in a smart contract must agree to the terms of the contract before it can be executed. They must also consent to any changes made to the contract. Transactions made through a smart contract are traceable and irreversible.Smart contracts were first proposed in 1994 by American computer Scientist Nick Szabo. Szabo created a digital currency called “Bit Gold” in 1998, over 10 years before the creation of Bitcoin.Benefits of Smart ContractsMany proponents of smart contracts point to many kinds of contractual clauses that could be made partially or fully self-executing, self-enforcing, or simply both. Conversely, smart contracts can lead to a situation where bugs or including security holes are visible to all yet may not be quickly fixed.The fundamental goal of smart contracts is to provide additional layers of security that are superior to traditional contract law. In doing so, this reduces other transaction costs associated with contracting. Smart contracts appear most prevalently in the cryptocurrency space, having implemented countless instances of smart contracts.
A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist each time a song is played on the radio. The contract detects when the song is played, and then automatically sends a payout to the artist or artist. All parties involved in a smart contract must agree to the terms of the contract before it can be executed. They must also consent to any changes made to the contract. Transactions made through a smart contract are traceable and irreversible.Smart contracts were first proposed in 1994 by American computer Scientist Nick Szabo. Szabo created a digital currency called “Bit Gold” in 1998, over 10 years before the creation of Bitcoin.Benefits of Smart ContractsMany proponents of smart contracts point to many kinds of contractual clauses that could be made partially or fully self-executing, self-enforcing, or simply both. Conversely, smart contracts can lead to a situation where bugs or including security holes are visible to all yet may not be quickly fixed.The fundamental goal of smart contracts is to provide additional layers of security that are superior to traditional contract law. In doing so, this reduces other transaction costs associated with contracting. Smart contracts appear most prevalently in the cryptocurrency space, having implemented countless instances of smart contracts.
Read this Term programmability and advance DeFi features. The firm is working on empowering entrepreneurs, artists, developers, and crypto users through a combination of its unique business model and proprietary technology. The company is recognized as one of leading DeFi-capable blockchains to focus on privacy. This year, the Secret Network drew wide attention when it announced that Quentin Tarantino, a renowned US filmmaker, to release seven never-before-seen clips from the popular film Pulp Fiction. Such an announcement drove attention to both the Secret Network and the entire NFT (non-fungible token) market. It also assisted in cementing Secret as a top-performing NFT launch space. Currently, the Secret Network attempts to address several problems. First, the company helps to drive Web3 adoption. The blockchain network also uses a simple interface and wallet to enable users to create NFTs and other digital assets without the need of having to acquire technical experience.
Source: https://www.financemagnates.com/fintech/secret-network-announces-400-million-ecosystem-funding-and-investors/