Secret Network’s native token, $SCRT, has experienced a remarkable surge, emerging as the top gainer on leading cryptocurrency exchange Binance.
With a staggering 500% increase in trading volume within 24 hours and a notable 24% price surge, $SCRT has captured the attention of the crypto community.
Secret Network’s prominence in the Cosmos IBC ecosystem is evident, consistently ranking among the top 5 for value transferred via Cosmos IBC for an extended period. Over the past 7 days alone, Secret Network has facilitated $4.2 million in transactions across 11,000 transactions, solidifying its position as a formidable player in the crypto space.
The network’s vitality is sustained by its vibrant ecosystem, characterized by ongoing development efforts and community engagement.
Initiatives like the recently launched HackSecret2024 hackathon contribute to the network’s growth and value proposition, fostering innovation and collaboration within the Secret Network community.
Secret Network Launches Snake Path
In a strategic move to enhance interoperability and functionality, the Secret Network team has unveiled Snake Path, a cross-chain messaging bridge designed to empower cross-chain smart contracts with confidential computation capabilities across popular chains like Ethereum and 0xPolygon.
Introducing #SnakePath the cross-chain messaging bridge built to power cross-chain smart contracts with confidential computation for popular chains like @ethereum and @0xPolygon 🤯
Ready to build? Get started 👇 https://t.co/ylRvAyYugVhttps://t.co/iuiGRPvfkO
— 𝕊ecret Network 🤫⚡️ (@SecretNetwork) February 12, 2024
Snake Path represents a protocol for facilitating lightweight, secure, and privacy-preserving message-passing between different blockchain networks. Its primary objective is to serve as a foundational element for integrating private data onto the blockchain in a manner that ensures privacy while enabling useful functionalities.
The @SecretNetwork has been consistently in the top 5 for #CosmosIBC value transferred for what seems like a year now.
Do you doubt that $SCRT is going to be a powerful player in this bull cycle? https://t.co/EKgugbdNBu
— AnewbiZ ⚡️🛡️ (@AnewbiZ007) February 11, 2024
In the days ahead, the Secret Network team plans to provide comprehensive documentation on utilizing Snake Path, further empowering developers and users to leverage the protocol’s capabilities for enhanced privacy and functionality in their blockchain applications.
As $SCRT continues to gain momentum and Secret Network’s ecosystem expands, the network remains poised to play a pivotal role in shaping the future of decentralized finance and blockchain innovation.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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