The blockchain space has seen a lot of innovation since DeFi summer in 2020. However, public blockchain is still struggling with MEV (Miner Extractable Value) and de facto anyone swapping through AMMs are subject to front-running or sandwich attack. More than $611million was collected in MEV since January 2020.

How Secret Solves MEV

These problems are solved with Secret by having an encrypted state and a validators set which know nothing about the transactions they are processing.

You will be able to use the standard DeFi primitives such as lending, borrowing and providing liquidity in pools without revealing your liquidation targets, your position size or your strategies as all your interactions are private.

Future DeFi landscape on Secret

Let’s now talk about what could be built on Secret (or what’s being built).

We could have a private credit scoring enabling you to borrow more with less collateral or even without.

Borrowing stablecoins against your assets and providing liquidity on an AMM on Secret or on Cosmos chain through IBC smart contract call, all of that privately is opening the field of new revenue opportunities.

Secret could also enable DAOs treasury assets and farming positions to only be visible to the DAO community.

Shade Protocol is launching an algorithmic stablecoin (SILK) pegged to a basket of currencies and commodities for maximum volatility shock absorption.

Learn more --> What Is Shade Protocol?

Dark Pools

Large investors are using dark pools in traditional finance for huge transactions. They are then subject to front-running from High-Frequency Trading firms. Private dark pools on Secret could lead to a massive amount of liquidity exchanged and finally provide foundations for the institutions and big players to enter the DeFi space with Secret.

Source: Pros and Cons of Dark Pools of Liquidity

More about DeFi dApp on Secret? - Sienna Network - Button Group - Shade Protocol

The rise of the Internet has provided a seamless communication experience for billions of users. You’re maybe one of them, communicating on a daily basis with your family, friends, co-workers, and communities.

But with a public by default blockchain, we would enable the same Web2 companies to again exploit user data by simply looking at the blockchain.

Privacy-Preserving Communication Tools

That’s why we need communication tools, like email, group chats, video calls, social media, and collaborative software with data protection and encryption at its core. We must take back control over our data when using these communication tools.

Alter is paving the way on Secret and has released its private & secure messaging application (email, messaging, and group chat). They plan to release an email bridge, voice calls, video conferencing, and calendar applications in the future with of course privacy at its core.

Its goal is to become the most decentralized, flexible, and scalable communications platform for Web 3.0.

Social Media

You could also imagine any of today's social media platforms or dating apps using Secret and its built-in privacy to protect its users and give them back control of their data and privacy.

This could also apply to decentralized music and video streaming. It’s better to be the only one knowing that you spent hours on cat videos and not your video streaming provider, no?

If you want to learn more about Alter --> Website / Blog

One of the issues with blockchain gaming is having your NFT and assets public, giving your opponents an edge against you. Leveraging private NFT metadata, Secret will disrupt the entire industry and give all players the same chance to be the best.

Secret gaming is also taking advantage of its private on-chain randomness number generation with Secret RNG which provides fair and private outcomes for gaming.

Secret Feature: Secret Oracles | Used in Gaming, NFTs & More!

Here is some of the function made possible in gaming through Secret’s technology:

1. Fully or partially hide your card deck in a PvP card game

2. Private equipment and skills set for PvP session in your favorite action RPG

3. Unlock special skills based on your NFT private metadata (only known by you)

4. Fair randomness for online Casino or Poker (with Secret RNG)

5. Private betting markets

If you want to dive deeper into what differentiates Secret games then read this article.

Now, let’s take a look at what Secret is bringing for your day-to-day applications.

Art and Digital Media are booming in the blockchain space thanks to the NFT primitive. Secret Network is providing exciting and critical features to NFT with privacy. You can learn more about the infinite horizon of Secret NFTs in this article.

What Secret Could Bring To Art And Digital Media?

NFT 3D galleries are starting to pop-up in the ecosystem. We could have a private version where the artist may show only some pieces to the public and have a VIP section only accessible if you own a NFT from that artist or with the password written in the private metadata of your NFT.

This protects the artist’s content and allows them to generate fair revenue streams by building a fan base. The artist could also release exclusive private content which is only to be seen by his NFT collections owners.

Quentin Tarantino and Kevin Smith both launched unique pieces on the Secret Network. You can follow LegenDao.io for more upcoming famous creators.

Fractionalized NFTs

Fractionalized Secret NFTs (currently in development) allows you to own a share of an expensive NFT privately and in the meantime provide NFTs a more liquid market and better price discovery.

What about owning a share of a luxury real estate that had been fractionalized and owning that token could generate a yield from vacation rent? Or do you prefer owning a share of a private island?

More about NFTs on Secret - Marketplace (Stashh) - Fractionalized NFTs

The core issue with public blockchains, when it comes to cryptocurrency payment is the lack of transactional privacy. This creates a huge barrier to adoption. You should be able to spend your cryptocurrencies and stablecoins without revealing wallet balances and worst of all, your entire transaction history.

Does your favorite coffee shop have access to your bank account balance when you’re swiping your credit card? We should certainly expect that level of privacy as the minimum standard in this new financial wave of cryptocurrency.

Privacy In Payments

A straightforward use case would be a payment platform leveraging Secret privacy to pay with cryptocurrency and preserving data, and account balance for both the consumer and the business owner without trusting a centralized third party. This is exactly what Silk Pay from Shade Protocol is aiming to provide. It’s introducing a new sender/receiver confirmation architecture using an escrow contract in the middle ensuring that the transfer is going to the intended address.

Read more about it here: Silk Pay

Privacy In Transfers And Company Expenses

Cross-border wire transfers are expensive, slow, and require paperwork. Alternatives by trusting a 3rd Party exist but with a huge fee involved.

Why not use Secret for instant, private and cheap transactions with no capped amount?

On the business-to-business (B2B) side, Secret has already developed an invoicing application for requesting and sending money to business counterparties. This is only scratching the surface of what is possible to develop thanks to Secret.

Secret Feature: Secret Invoice Payments

Privacy is a human right and Secret is setting the landscape to take back the full control and ownership of our data. Privacy is fundamental to a better decentralized web.

Why are you not receiving any incentives when your data is monetized and exchanged on marketplaces you’re not aware of?

Cloud Data Storage

Jackal is building a decentralized Web3 hot/cold cloud storage system that follows the Amazon S3 standard but with higher digital privacy and cyber security standards by bridging Secret and Filecoin. Jackal is based on a P2P node network which are all a gateway to FileCoin and an IPFS node (acting as a cache layer), ensuring a smooth and private user experience.

Only the owner of the private key can access the content of his storage and Secret smart contract are used to encrypt/decrypt the content uploaded/downloaded by the owner.

For example, you could have a private vault for digital evidence in a justice case which could be only opened during hearings with the private key avoiding any prior tempering.

Web3 developers could use Jackal to build:

1. Password Managing Service

2. Website Hosting

3. NFT Storage Solution

4. Google Docs and Dropbox or similar applications

Content Marketplaces

By controlling the viewability and ownership of your data, you should be able to decide to sell, if you choose to, your data in marketplaces.

DataVault is being developed on Secret, introducing a decentralized privacy-preserving content management and data exchange. You will be able to download an encrypted dataset containing any type of content (video, music, software, picture, data proofs, …) and by purchasing the viewing key you will unlock its full content. Marketplaces plugged into DataVault would generate revenue from sales for the governance stakers. They could vote to approve or delist dataset providers and provide dataset scoring. This economic model benefits the creators and users and not one centralized company.

Only Share What Is Needed

And what about private Decentralized Identity? You should be able to connect to all your dApps with your unique DID and share only data that is needed by the dApp.

StarShell is a privacy-preserving, free, and open-source Web3 wallet built for the Secret Network and Cosmos Ecosystem. It protects your identity by limiting the types of information dApps can collect from your account.

With Secret as a base layer, you can see the impressive diversity of use cases that become possible.

Learn more about Alter.network, DataVault, and StarShell.

Secret’s tech is the ultimate blank canvas for innovative applications. You might already know of Secret as the Web3 privacy hub. And with programmable privacy enabled by default, Secret is enhancing existing concepts created on the blockchain (DeFi, NFT, Gaming). But more crucial than that, Secret offers developers an edge to innovate on real-world use cases.

What Will Web3 become?

Your privacy was an afterthought in Web2 and we are repeating the same mistake in the early days of Web3. We have seen massive privacy and data breaches in the last few years (Cambridge Analytica to name one).

Without privacy, Web3 will be a dangerous version of Web2 where your data and consumer behavior are just public and sitting here for big corporations to exploit them, again…

Secret Network is providing the solution to take back control, preserve your right to manage your privacy, decide what data and with who you want to share it, and in the long run for cryptocurrency to go mainstream.

Secret Network is not only bringing privacy to existing blockchain applications but also providing the base layer for a better Web3. This is where we are seeing a lot of real use case applications putting back the user at the center of it all, preserving your right to privacy.