Secret Network Ecosystem Update: October 2020
Read a comprehensive update on what is happening across the Secret Network ecosystem, including product and technical updates, 5 episodes of Sharing Secrets, potential community-spend proposals, and new charters by leaders of the various committees!
Hi Secret Agents!
Thanks for being here ~ your mission, should you choose to accept it, is to read the following post and learn what has been going down in the Secret ecosystem lately 🤫
From product launches, to new integrations, to insightful Secret Solutions, to the growth of community committees (and the launch of new ones!), there’s so many secrets to get excited about. Our push to bring privacy to public blockchains is just heating up. See what’s been done - and how you can get involved!
In case you missed it, read last month’s ecosystem update which covered the launch of “secret contracts” on mainnet - making Secret Network the first blockchain to support privacy-preserving smart contracts with encrypted inputs, outputs, and state.
Product and Technical Updates
SecretSCRT: Privacy Tokens Live on Mainnet
Combining the programmability of ERC-20s with the privacy of Zcash or Monero, "Secret Tokens" unlock important use cases and create new value. The first Secret Token is now live on our mainnet!
Secret Ethereum Bridge
The Secret Network / Ethereum Bridge is now live on testnet, bringing privacy to Ethereum assets at ¼ the cost of Tornado Cash!
Secret Network gets a Secret API!
Chain of Secrets just launched the Secret API for Secret Network as part of our developer community on-boarding efforts. We hope to connect and collaborate with all kinds of secret app builders!
Members of the Secret Network community are now able to run an affordable Secret Network node via Chain of Secrets’ Secret VPS service. If you are a developer or just a SCRT token holder who wished to run a full node to participate and help decentralize the network, but saw the previous provider costs were too high, now there is a new affordable option available!
Cosmostation launched support for Secret Network in its iOS mobile application, becoming the first mobile wallet to support Secret!
In October, the Puzzle team worked to update both the chain digest and market digest boxes. For the chain digest they've added the total contracts, individual delegators, total accounts, and total unbonding information. In the market digest box, you can now see market information around price, as well as secretSCRT TVL and total value bonded from delegations.
The Secret Solutions series on our blog highlights important new products and use cases for Secret Network that are currently in development. Here’s the latest!
Learn how constant function market makers powered by "secret contracts" on Secret Network can address privacy and usability challenges for decentralized exchanges like Uniswap 🦄
Secret NFTs: Privacy for Verifiable Goods and Experiences
Read about non-fungible Secret Tokens, which enable verifiable representation of unique items and events, such that ownership and transactions are private by default. What is verifiably valid?
Secret Oracles 🔮🔮🔮
One of the things we’ve been discussing that would likely have a lot of impact, is re-using the Secret Network infrastructure to provide secure, secret oracle functionality – to both Secret Network and potentially other networks as well through future bridges (e.g., IBC).
The general method of enabling oracle functionality, and also to make them secret - i.e., allowing you to stream confidential data from web2 endpoints, such as databases, and feed them into secret contracts, is by leveraging TEEs in much the same way as they are leveraged in secret contracts. Specifically, we would use an idea similar to the one presented in the original Town Crier 4 paper, where the TEE acts as a trusted bridge, which opens up a TLS connection with some web2 service, pulls data from it, and then creates and signs a transaction directly from the TEE that includes that data as an input to some secret contract (or a smart contract if this is bridged to another chain). Given the confidentiality and correctness properties of TEEs (and assuming a proper attestation is attached), one can be sure that data hasn’t been tampered with en-route.
Learn more on the forum:
Updates on Decentralization from Secure Secrets
Thanks to the awesome team at Secure Secrets, we have this detailed report on the distribution of voting / staking power across the network.
Another exciting set of statistics is the meaningful decentralization through the entire network. Using the 20/80 real is an excellent goal for the start of a network. This goal aims to have the top 20 nodes of the network in control of 80% of the network. September to October saw a meaningful step towards this 20/80 goal. As a whole, the network is being decentralized at a shockingly quick rate — an excellent sign of the health of the ecosystem.
These numbers will continue to be updated every month, tracking the progression towards decentralization or centralization on a month to month basis. Secure Secrets also wants to acknowledge in this report that there is a large amount of SCRT that has not been swapped that will continue to be tracked. This large number of potential SCRT will make a big difference in distribution of the network.
Secret Raffle Winners
In our first community organized SNAC (Secret Network Action Campaign), we ran a promotion with Keplr Wallet to help onboard new users into the Secret ecosystem. Congratulations to the 10 recipients of 250 SCRT each!
SCRT.Network Website: Phase 1 Completed
The site is built with Vue.js and uses the Gridsome framework. Gridsome is a modern framework that exists within the JAMStack world. The styling is done with the help of a css framework that was developed by our partner LKMX called Flare.
Our goal was for the site to be clean and simple so that the message and the content would stand out. But, we also wanted some splashes of artistic design sprinkled in. We took inspiration from the design aspects already in place in the blog posts, and borrowed elements from Walking Frames’ excellent “Secret in 60 seconds” video.
So far, the site was built by LKMX and the Secret Foundation. This was done purposely to get us to a fully functioning starting point at a speed that would have been impractical with a fully collaborative open process. Now that Phase 1 is over, it is time to bring everyone into the fold. The question is how to do this in the most productive sustainable way possible.
The Secret Network Website
Committees are part of the critical infrastructure of Secret Network governance. Any community member can become a “Secret Agent” and begin contributing to committees. We are currently in the process of defining charters for each and every committee in Secret Network, along with identifying the initial leaders.
If you’re interested in becoming a Secret Agent and joining any of the committees listed below, please fill out this form!
- Development Committee (charter)
- Education Committee
- Infrastructure Committee
- Awareness Committee
- Website Committee (forum post)
- Analytics Committee (forum post)
- Design Committee
- Governance Committee
Here is the beginning of a multi-purpose governance committee charter...
New Spending Proposals
Cosmostation (Stamper Co., Ltd.) proposes a community spend of 450,000 SCRT to integrate Secret Network on Cosmostation Mobile Wallet and Mintscan Block Explorer. After completion of deliverables, Cosmostation will continue to maintain & develop these products for Secret Network as the network expands and more functionalities become introduced.
DataHub | Figment
Figment is looking to add Secret to its suite of DataHub APIs!
As part of the DataHub API suite, Figment will host Gateway Access (submit transactions + read data) and also develop and host its Transaction Search API.
Developers will be able to sign up and access live blockchain data and submit transactions without having to worry about maintaining blockchain infrastructure or doing custom integrations. We provide reliable access to the Tendermint RPC and the Secret REST API as well as providing the gateway to submit on-chain transactions. Both the latest mainnet and the latest testnet will be supported, and an archive node option will be available to users.
In addition, Transaction Search APIs will allow users to pull transaction data in ways currently impossible with the REST API. Filter transactions by:
- Message type
- Transaction type
- Data range
- Full-text search on transactions details by:
- Memo field
As part of the grant, Gateway Access and Transaction Search will be free for developers for a period of six months. We will establish a quota of 200,000 requests per day per account during this period, with an option for developers to upgrade as needed.
Media and Events
Enigma VP of Engineering Itzik Grossman presented on Secret Network at the awesome zkp-privacy Summit organized by Dystopia Labs!
Secret Network was also featured on a number of different podcasts in the month of October! Catch up on some great listening below.
During October alone, the notorious Secret Network podcast “Sharing Secrets” (hosted by Tor Bair) released FIVE amazing episodes. At this rate, there aren’t going to be any more secrets to share… Just kidding, there will always be more!
Ep. 5 with Jake Brukhman of CoinFund
Tor asks Jake: What secrets has he learned as an investor, builder, and artist in the blockchain space? Why are NFTs finally gaining traction after years of development - and what will the next phase of growth look like? How will the introduction of privacy impact both the NFT and DeFi spaces? And how close are we to "mainstreaming" NFTs and other blockchain-based applications?
Ep. 6 with Qiao Wang of the DeFi Alliance
Tor asks Qiao: What secrets has he learned trading, researching, and investing? What's the right way to measure growth for DeFi, and what will unlock the next phase of growth? Is there a close connection between privacy and liquidity? And what role can the DeFi Alliance play in helping scale decentralized finance from billions to trillions?
Ep. 7 with Josh Lee of Chainapsis
Tor asks Josh: What secrets has he learned on his journey from journalism to building key infrastructure for Cosmos and beyond? What does it feel like to be successfully funded by a community proposal (like Keplr was by the Secret community)? What excites him the most about emerging DeFi products? And what will it take to achieve sustainable mass adoption of blockchain technology, including wallets?
Ep. 8 with RAC - Grammy Winner
Tor asks RAC: What secrets has he learned that other artists should know as they explore the new frontiers of blockchain? What are his favorite experiments that he and other artists have done in the blockchain space? How disruptive will decentralized technologies be to the business models of the legacy music world? And what might the music platforms of the future look like - or are they already here?
Ep. 9 with Jamie Burke of Outlier Ventures
Tor asks Jamie: What secrets has he learned as an investor? How does he learn from the experiences of other investors and founders? How has he developed his investment theses in the blockchain space? How does Outlier Ventures support projects and founders? And crucially, how can we achieve broader adoption of groundbreaking use cases like NFTs and DeFi?
Saving the Best For Last
Made it all the way through? Congratulations! Your reward is an exciting secret...
Learn about secretSCRT
Actively participate by joining committee(s) and earn through sharing value in whatever context you are willing and capable. Here is a forum post with specific links to each of the public Discord channels for committees: