A brief history
The Secret Network was founded in 2017 by MIT affiliates and entrepreneurs Tor Bair and Guy Zyskind. The Secret network is dedicated to the adoption of decentralized technologies with a focus on privacy and they distinguish themselves by being the first cryptocurrency blockchain to offer completely private smart contracts- meaning that all smart contract inputs and outputs are completely encrypted. All Secret Contract transactions are made inside Trusted Execution Environments (TEEs) and cannot be viewed by the nodes or even device administrators running the network. That said, Secret Network’s native SCRT coin is not a privacy coin. All transactions made in SCRT are publicly viewable just like those on Bitcoin or Ethereum.

SCRT in practice
​​SCRT can be used for staking, voting, and paying network transaction fees. It is also necessary to operate a node in the network, with the validators receiving rewards and a share of the transaction fees from token swaps. Thanks to the delegated proof-of-stake system of Secret, non-node-operating token holders can delegate their SCRT to a validator to earn a share of the network rewards. SCRT also functions as a governance token.