SCRT is the utility token of Secret Network, the first blockchain on the market which introduced privacy-preserving smart contracts. Unlike the most popular platform for smart contracts, the Ethereum blockchain, Secret Network supports encrypted inputs, outputs, and state for smart contracts. Essentially, the network guarantees to its users that their sensitive data is safe and completely inaccessible for any third party. In order to ensure privacy, all users have their personal "viewing keys," which grant them the right to see the data.
Users of the network can launch their decentralized and permissionless applications that are private-by-design. SCRT token is used for paying gas fees of the network. Additionally, it can be used for staking, and users can receive rewards for it. Secret Network is community-governed, which means that holders of SCRT can influence the network development through voting.SCRT Payment Benefits:
People who use SCRT tokens do not have to disclose their identity to conduct transactions.
Transactions with SCRT are fast and do not require waiting hours for the crypto to arrive.
Secret Network is a privacy-driven project which ensures that no one has unauthorized access to the data of its users.