Why this Privacy Network will 10x And Revolutionize Privacy NFT's (You're Early!)
Learn about Privacy Networks, before it's too late.
Yesterday, EU Regulators passed law on the regulation of “unhosted wallets” like hardware wallets and offline wallets, ones they can’t control. They’ve implemented a KYC-like procedure where you can’t send more than $1,000 to a private wallet without disclosing the personal information of that private wallet to the exchange and authorities.
Coinbase also just implemented this for Canadians. You can’t withdraw funds from the exchange if it’s going to someone they don’t like.
Not a good for everyday users.
It’s a pain for the exchanges as well, and forces regulation on the DeFi space.
And as more regulation enters crypto, so does the rise of privacy networks. Most of us already know privacy isn’t good on Ethereum. Anyone who knows your public address can see everything you’ve ever owned with all transactions.
We need not just privacy coins, but layer 1 smart contract protocols with privacy integrated throughout the entire network. That way applications and trades between assets are also protected, across different blockchains or not.
There are a few solutions I am following, but my focus today is on Secret Network.
I’m interested in Secret Network a lot because of their expanding ecosystem horizontally and vertically. They revealed at the beginning of this year $400M in ecosystem funding, including a new $225M ecosystem fund and a $175M accelerator pool.
Part of that accelerator pool is SCRT Labs, designed to help fund, prospect, and incubate new startups on the Secret Network.
So in my latest interview I spoke with Guy Zyskind, CEO and Founder of SCRT Labs and OG of SCRT, on everything about the Secret Network, how they are incubating privacy focused apps through their new fund, Secret NFT’s and more!
Because Secret Network’s privacy is designed across the entire network and not just the coin, it makes for a great dApps suite of privacy centric applications. This includes a “secret messenger” and… Secret NFT’s!
(They just finished a release with Quinton Tarentino for his Pulp Fiction “Secret” NFT’s, and yes you’re still EARLY because it will get even cooler).
They also just released the Legendao on Secret Network, the first Play-to-Mint NFT Staking platform.
It’s possible to get an airdrop of LGND tokens in the next 10 days if you’re staking SCRT on Osmosis Zone DEX on Cosmos, and follow their post instructions below.
Lastly, Secret Network is built on the Cosmos IBC Inter-Blockchain-Communication protocol, so it is inherently able to communicate to all other protocols tied into the Cosmos ecosystem, bringing privacy to assets on multiple chains. I am very bullish on the Cosmos Ecosystem!
With everything going on at Secret Network and the protocol almost breaking the top 100 coins in market cap, this is one to look out for. I expect soon that many will wake up to understanding the need for privacy preservation for their financial assets and personal information, and Secret is likely to lead the way in this area. By reading this now, you’re already ahead of the game.
Ashton Addison
-CEO, Crypto Coin Show & BlockWest Capital