Q – 1 from a telegram user @JoxesXIII

Do you think that the secret network can be beneficial for game-based DApps like the MMORPG style where it is important that each account has its inventory (you know, items, objects) in a private environment? I mean, how about this game using privacy?

Tor Bair 𝕊 [Secret / SCRT]:

Yes, decentralized gaming is a huge use case I’m excited about!

Imagine having individual game items as “secret tokens” so no one can see who holds the rarest types.

The most basic example of a game you can build on Secret Network is rock paper scissors.

You can have two players submit their move encrypted to the network, and a winner will automatically be chosen without revealing your move directly to your opponent (and you can’t be front-run by a miner!). It sounds easy, but on regular blockchains, it’s actually quite hard to do this in a decentralized manner.

You can also build private loot boxes on Secret Network, as we have randomness capabilities! So I would love to see more of these types of applications built. Games are super cool, and we can have Secret ones!

Q – 2 from a telegram user @AmitGoyal1444

If you had a time machine, would you travel to the future or back to the past? If the future then where will you want to see your smart network?? If past then which things will you want to improve?

Tor Bair 𝕊 [Secret / SCRT]:

If Secret Network could have existed at the time when DeFi was originally growing on Ethereum, that would be great. I am concerned that we’ve let DeFi grow without giving enough thought to security.

So I’d like to travel back at least a couple of years to make sure we could build secure DeFi right from the beginning 😀

But this type of technology would be super useful for all manners of applications past and future.

Let’s imagine we travel into the future

What Secret Network allows is for many many types of people all to share their own private data with the network, and only the network – not with each other.

Even the nodes themselves can’t see the unencrypted data. I imagine a future where healthcare providers can perform computations over many many pieces of encrypted individual healthcare data, in order to research new treatments.

While it stays secure😀

In my dreams, Secret Network enables the world to learn better from *everyone*, because everyone feels secure to share their data for the greater good.

And in turn, everyone benefits more from that – and maybe they even get paid to do it.

.Q – 3 from a telegram user @Capt_Star1

NFTs have been predicted to be the future of DeFi, do you have plans to include NFTs in the future?

Tor Bair 𝕊 [Secret / SCRT]:

We actually wrote a whole blog! https://scrt.network/blog/secret-nfts

Secret NFTs are actually a very, very important concept.

You can issue an NFT that represents access to some sort of good or service, or ownership, or an experience.

There are many, many reasons for wanting to have privacy for this.

So yes, we are currently developing NFT standards for Secret. There are already secret tokens, as I mentioned. These are like the ERC-20 standard (we call them SNIP-20s).

So now we need a standard that’s like an ERC-721 (NFT)

Q – 4 from a telegram user @Chinthaka93

You have mentioned that “up to 2 million SCRT are expected to be available to support bridge mining and the launch of Secret DeFi”. What is the meaning of this and how can we participate in bridge mining and what are the rewards for joining this?

Tor Bair 𝕊 [Secret / SCRT]:

So I started to talk about bridge mining… 🙂

https://scrt.network/blog/secret-ethereum-bridge-is-live-on-mainnet

If you are interested, you can take ERC-20s and ETH you already hold, deposit them on our Ethereum bridge, and become eligible for bridge mining rewards! Over time we will be distributing SCRT to people who provide the initial liquidity on the bridge.

This is expected to start in January, but you can already be testing out the bridge so you can be one of the first. But! There’s more! We are ALSO launching an AMM on Secret 😲
https://scrt.network/blog/secret-markets-front-running-prevention/

We will also have rewards available for people who become users of the AMM! This will be like a privacy-preserving, front-running resistant Uniswap… one of a kind.

So between bridge mining and AMM rewards and other incentives, we think the launch of Secret DeFi will go really well😀

Q – 5 from a telegram user @frankvic

Partnerships and alliances are very important for any emerging project. What important partners have you got so far? What are the plans to make yourself known to more users? Does your community play an important role in the development and expansion of the project?

Tor Bair 𝕊 [Secret / SCRT]:

Yes, they are. I wouldn’t say we are “emerging” since we’ve been around a very long time… but partners are critical 😀

We’re focusing on working with deeply experienced technical teams from around the blockchain space as we develop initial applications for Secret Network.

We’re also trying to add support for as many projects on the Ethereum Bridge and other bridges as we can. Currently we support: $ETH, $YFI, $UNI, $BAND, $COMP, $LINK, $AAVE, $KNC, $SNX, $OCEAN, $MKR, $DAI, $USDT, $TUSD, and $WBTC.

We are only focused on technical collaborations for the most part. I don’t like “pump partnerships.” We recently announced a collaboration with Ocean Protocol that is highly technical – and exciting! https://blog.oceanprotocol.com/ocean-and-secret-collaborating-on-access-control-and-private-compute-for-datatokens-1427acd1fcbe

Also, because we’re a decentralized ecosystem, we actually have the ability to make many more partnerships than others 🙂 For example, Enigma is currently working with a number of companies.

https://www.ibm.com/cloud/blog/enigma-and-ibm-cloud-are-protecting-human-lives-as-well-as-data-privacy

https://blog.enigma.co/announcing-enigmas-collaboration-with-intel-43bbf73a86a7

Q – 6 from a telegram user @BJosefina61

Recently different CEXs have refused to incorporate privacy-based protocols due to regulations. What are the Secret Network Team’s expectations regarding future listings and incorporation in the more formal and institutional sector?

Tor Bair 𝕊 [Secret / SCRT]:

This goes back to my earlier answer – is Secret a privacy coin?

And we aren’t. So I don’t expect the same difficulties as a project like Monero, or Zcash, or something like that. I don’t think that you will necessarily see “Secret Tokens” listed on centralized exchanges. But that’s fine – we will have our own AMMs on Secret Network where you can trade them. SCRT itself though – my goal is to make sure it is universally accessible to everyone. And actually, institutions have a lot of demand for our solutions! Institutions care a lot about privacy 🙂 For them, we’re building some interesting things as well…

https://scrt.network/blog/secret-auctions-decentralized-otc-dark-pools

Q – 7 from a telegram user @konditer_rolex

At the time of this AMA, the first OTC auction using a Secret smart contract should already be completed. Tell us how it went. Now each of us can create an auction for exchange between different networks using a secret bridge? Share with us your impressions and, of course, instructions on how to create an OTC auction? 

Tor Bair 𝕊 [Secret / SCRT]:

Since I shared that link, I may as well answer this question 😀.

It’s really exciting for us to share this. You can actually list a Secret Token for sale and request bids for it!

So I could list my secretETH for sale, and ask for bids in secretUSDT or secretDAI.

It’s good for large trades – and the bids are private! We’re working hard right now to create a UI (graphic interface) for people to create their own auctions, for any Secret Tokens. Right now you need to have a little technical experience. But I think it’s exciting 😀As we build more bridges, we will support more assets!

Q – 8 from a telegram @Mbegu2

Most of the Crypto projects are built solely for the purpose of accumulating wealth for themselves. So, I would like to know the value you would like to add to the crypto industry that will bring greater abundance to the industry? 

Tor Bair 𝕊 [Secret / SCRT]:

Interesting question. And a great point. Many projects are built to make the builders wealthy. Not to create more value. I believe that privacy solutions will unlock the next phase of growth for decentralized finance. These solutions will be required if we want to see billions and trillions of new money enter the DeFi space, beyond just Bitcoin. Frontrunning resistant AMMs and privacy-preserving dark pools are just two ways we think Secret contributes to this growth. Dark pools are actually hugely important in the finance world and provide massive liquidity for stocks and other assets. And they’re also good for avoiding bots.

Q – 9 from a telegram user @Capt_Star1

What would you say is this project’s greatest strength?

Most projects don’t talk about their weaknesses. Are there any weaknesses you’re currently working to mitigate?

Tor Bair 𝕊 [Secret / SCRT]:

Nice one! I think our biggest weakness right now is that we aren’t an ERC-20. It’s also our biggest strength – being an ERC-20 means you can only really serve Ethereum very well, and no one else. By being our own blockchain, we have so much more potential than if we were just a token. But it also means it’s harder for people to buy SCRT, or for people to learn about the project.

And you need a compatible wallet, and you need to look at a different block explorer… So there is some friction for people who are just finding out about our ecosystem. But I think it’s all worth it – because we are super, super cool😀how many more do I have haha.

Q -10 from a telegram user Berta 

How many communities do you currently have active and what are your plans to increase your expansion in the world to teach other people who do not speak English about your project?

Tor Bair 𝕊 [Secret / SCRT]:

So, here’s our current non-English communities:

Russian Telegram: @scrt_russia
Japan Telegram: @scrt_japan
German Telegram: @scrt_german
French Telegram: @scrt_french
Dutch Telegram: @scrt_dutch

We would love to support new Secret Agents who want to help establish other language communities.

Some important ones would be helping us grow our Chinese and Korean communities. Right now community managers are not paid – they are volunteers from our global community. But if you’re interested in starting a community, and you’re committed to growing it, we’re happy to help support you😀We are also looking for more people to do translations for our website and blogs and tweets! If you apply to be a Secret Agent, mention if you’re interested in doing any of this 😀

Q -11 from a telegram user @Chinthaka93

I have bought some ENG in Binance and after the main net release that ENG was swapped to SCRT and now I am holding SCRT in Binance. But still, ENG is listed on CMC, and ENG is still traded on some exchanges according to CMC, Is this correct or a mistake? If yes why are you still keeping ENG even after releasing the SCRT main-net?

Tor Bair 𝕊 [Secret / SCRT]:

For those of you who aren’t aware, there was a swap from an old coin (ENG) to SCRT that was built by the Secret Network community.

https://www.binance.com/en/support/announcement/ca0ff45bb3764584886c1e0fa6189a3c

ENG is still trading on some exchanges, but no one is developing for ENG anymore. If you have ENG, you have until the end of the year to swap it for SCRT. This is very important! We aren’t “keeping” ENG, but we also can’t stop exchanges from keeping it listed… Everyone (including Enigma) is developing only for Secret Network. ENG does not have any utility.

Q -12 from a telegram user @Beterror203

Hello, Mr @thisistor To become an SCRT validator, highlight the main thing that I must take into account to fulfill the requirements?

Tor Bair 𝕊 [Secret / SCRT]:

Anyone can run their own Secret Node on Secret Network – it’s permissionless!

However, only the fifty largest nodes (measured by stake) are considered to be “active” in the network at any given time.

You can see the list of active validators here: https://puzzle.report/secret/chains/secret-2/validators

If you want to run your own node, please read our documentation. There are some hardware requirements that you must know about.

https://build.scrt.network/validators-and-full-nodes/secret-nodes.html

Q -13 from a telegram user @carlos3766

What differentiates a delegator from a validator and what are its benefits?

Tor Bair 𝕊 [Secret / SCRT]:

Tor Bair 𝕊 [Secret / SCRT], [17.12.20 19:54]
If you DON’T want to run your own node, that’s obviously not a problem 🙂 we have thousands of people delegating and staking!

So a delegator is staking their coins with someone else who runs the node. That person is a validator. Delegators get a share of the validator’s rewards for operating their node. I’ll repost the staking guide so you can get started with delegating – it helps us secure the network, and you get a nice ROI!

https://scrt.network/blog/staking-secrets-guide-to-staking-delegating-scrt/

Q -14 from a telegram user @wonderkit

What has the Secret network team done to make this project full of innovation, inspiration, compared to what it was, in the beginning, to become what it is today?

Tor Bair 𝕊 [Secret / SCRT]:

I would love to take credit as a development team, but it’s really the community 🙂 Our community committees are truly responsible for our growth and success. You should definitely join one if you want to be a part of Secret’s future 🙂

Q -15 from a telegram user @BlancaSdF

Privacy is not free: is SECRET NETWORK expensive to transact like Ethereum today?

Tor Bair 𝕊 [Secret / SCRT]:

Lastly – it is not expensive like Ethereum 🙂 We’re also helping to scale Ethereum by taking a lot of interactions off Ethereum, over our bridge, and into the Secret ecosystem!

I hope to see a lot of new applications built on our network in the coming months!!