Secret Network's Privacy-Focused Smart Contracts Move a Step Closer to Going Live

The Secret Network’s privacy-focused smart contracts will be formally proposed for the mainnet on Sept. 8. If approved, they’ll launch a week later.

AccessTimeIconSep 1, 2020 at 10:11 p.m. UTC
Updated Sep 14, 2021 at 9:51 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The Secret Network will deploy its “secret contracts” on the live blockchain Sept. 15, pending passage by the community, Tor Bair, the Secret Foundation’s executive director and chairman, said. 

Secret contracts are a type of smart contract that allows private data to be used in decentralized applications without revealing the raw data. A formal proposal to introduce the contracts will be made on Sept. 8.

  • The inputs, outputs, and network state are encrypted in a secret contract, which means the data is hidden even on a public blockchain. It is also invisible to the nodes executing the contract.
  • The upgrade would be significant as it would make Secret Network the first main blockchain architecture that enables users to do general purpose privacy computation across nodes equipped with secure enclaves.
  • Secure enclaves are isolated areas within a hardware device where sensitive data is encrypted and inaccessible to other parts of the CPU.
  • The network is building connections to Ethereum, Cosmos Hub and other blockchain networks, with the aim of bringing “programmable privacy” to a wider array of protocols, according to Bair's blog post Friday.
  • The Secret Network made this announcement in advance of the mainnet launch so validators can coordinate due to the size of the upgrade, according to Bair.
  • “We believe that programmable privacy is the critical missing piece to global adoption of public blockchains and open financial systems," said Bair.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.