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Secret Network bringing in privacy features on the main Ethereum chain

Divya Gandotra
Divya Gandotra

It wouldn’t be wrong to state that cryptocurrencies are gaining more and more popularity with each passing day. The currency has also become mainstream in several places, such as Venezuela where Pizza Hut chains recently began accepting them as a payment option. However, security still remains a big concern for several people using cryptocurrencies.

Considering the same, Secret Network, which is Layer-1 privacy-enabled blockchain, announced the launch of programmable privacy for the main Ethereum blockchain. This feature is already available on the testnet, and it will be brought to mainnet on December 14th. It will be the same as one may find on Zcash, Monero, and Dash.

The announcement also stated that,

“The Secret Ethereum Bridge is a massive milestone, bringing cheaper and more usable privacy to Ethereum and Ethereum-based assets. It allows users to create synthetic (wrapped) ETH and ERC-20 tokens on Secret Network that can be used with full privacy, at lower cost.”

In other words, it can also be said that users will now be able to turn their assets into a secret version for transacting them privately. According to Secret Network, this will make the financial ecosystem more secure, accessible, and usable while cutting out on the privacy concerns for the users.



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