The open source Secret Network has announced its intention to add confidential contracts based on privacy to the site. The promotion will take place on September 15th when the proposal is accepted by the community.
According to the Foundation’s announcement, developers will have the ability to create and distribute so-called “secret” smart contracts that use inputs, outputs, and encrypted cases. Secret contracts for many different blockchains can allow personal data to be used in decentralized applications without compromising the user’s personal safety.
The foundation explained:
Secret contracts allow for programmable privacy, so complex privacy controls can be arbitrarily implemented in applications. The flexible encryption features and controls provided by Programmable Privacy unlock the potential of the decentralized web. ”
The Secret Network focuses on ascending to new secret contract developers, secret node operators and community members to foster the massive adoption of secret contracts among public blockchains.
The foundation will also issue secret tokens, which are privacy-based assets that are programmed like ERC20 but closed like zCash. The underground network indicated that it expects this to boost DeFi accreditation as well.