Secret Network and Swisstronik Collaborate to Boost the Confidential Computing Network

Published on: 30.05.2024
Secret Network and Swisstronik

Secret Network has partnered with Swisstronik, a privacy-focused blockchain platform designed for Web3 compliance.

This collaboration expands the Confidential Computing Constellation and unlocks exciting benefits for both communities.

Expanding the Confidential Computing Constellation

Swisstronik will leverage Secret’s cutting-edge Trusted Execution Environment (TEE) technology, developed by SCRT Labs. This technology enables secure enclaves for confidential computing, protecting the privacy of transactions within the Swisstronik blockchain.

Native EVM Contract Execution on Secret

Swisstronik’s EVM (Ethereum Virtual Machine) technology will be integrated into Secret Network. This allows developers to deploy existing Solidity smart contracts directly on Secret, enabling confidential execution without the need to learn a new programming language. This significantly simplifies the process for Solidity developers to build on Secret Network.

SWTR Airdrop and Development Grants

Swisstronik is allocating $1 million worth of their SWTR token to the Secret community.

  • Community Airdrop: $700,000 will be distributed to Secret Network community members. The final airdrop amount will depend on the SWTR token price four months after launch, ensuring fair distribution based on market conditions.
  • Development Grants: $300,000 will be allocated for grants to support the development of decentralized identity applications utilizing Swisstronik on Secret Network.

Secret VRF Integration and Collaboration

Swisstronik will integrate Secret Network’s VRF (Verifiable Random Function) service for secure and verifiable randomness generation within their blockchain. Additionally, SCRT Labs will appoint an advisor to Swisstronik’s Advisory Board, fostering closer collaboration.

About Swisstronik

Swisstronik is building a modular blockchain ecosystem that offers Web3 companies a suite of tools for verifying real-world data in a decentralized, privacy-preserving, and cost-effective manner. These verification tools address various needs, including KYC/KYB identity checks, AML (Anti-Money Laundering) compliance, and RWA (Real-World Asset) tokenization. This unique approach helps dApps and blockchains achieve regulatory compliance while preserving decentralization and user privacy.

Website | Twitter

About Secret Network

Secret Network is a blockchain platform offering privacy-focused smart contracts by default. Launched in September 2020, it was the first to provide this functionality on a mainnet. Built with Cosmos SDK, it integrates privacy across Cosmos and EVM ecosystems. Combining Intel SGX technology, encryption, and key management, Secret Network offers a secure and scalable environment for permissionless applications with novel use cases not possible on public blockchains. The SCRT token fuels fees, security, governance, and Proof-of-Stake consensus, with a thriving developer community and over 30 dApps already live. 

Website | Twitter

Source:
https://scrt.network/blog/swisstronik-partnership/

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