‘Secret’ Crypto Asset Far Outperforms Bitcoin and Ethereum, Beating Market Cap by $ 1,000,000,000 with Massive 7-Day Rally

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A downright secrecy altcoin project has just made it to the top 100 crypto assets by market cap.

The cryptocurrency called Secret (SCRT) has risen 97% in the past seven days according to CoinGecko, from around $ 4.50 to its current price of $ 8.87 at the time of publication.

The rapid increase in SCRT far exceeds Bitcoin (BTC) and Ethereum (ETH) in the same time frame, which have risen by around 1% and 11% respectively.

Source: CoinGecko

The altcoin market cap has exploded to $ 1,310,576,878 at the time of writing.

Secret, formerly known as Enigma, initially aimed to bring privacy features to smart contract platforms like Ethereum.

The platform’s mission has since transformed and Secret is now a delegated proof of stake blockchain designed to support a new ecosystem of decentralized applications (DApps) that protect user privacy.

The platform uses the Cosmos SDK and Tendermint consensus protocol, and users can lock down the native SCRT governance token to help secure the network and earn rewards.

To date, Secret says there are now 13 decentralized apps running on the network.

“Secret apps are made from powerful and confidentiality-preserving smart contracts (ie secret contracts). By leveraging the IT privacy of Trusted Execution Environments (TEEs) and secret contracts, users gain default privacy when interacting with secret applications, unlocking the full value of decentralized applications.

Secret switched from Enigma (ENG) to SCRT at the end of last year, with the Binance cryptocurrency exchange being the first major exchange to support the new crypto asset.

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Featured Image: Shutterstock / Liu zishan

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