Firm announces new data privacy function for public blockchains

Secret Network has announced it is launching a new secret contract function “to bring privacy to public blockchains”

The open-source blockchain protocol plans to launch the new function, which it says is the first of its kind developed anywhere, on September 15.

The company says it said: “For the first time, developers will be able to build and deploy “secret” smart contracts that can utilize encrypted inputs, outputs, and state”

It said it will allow anyone to use their private data in decentralized applications without revealing the raw data.

“Data being used in computations throughout Secret Network simply can’t be public” it said.

The firm says its secret contracts will be the “the first layer-one blockchain to enable general purpose private computation across a distributed system of nodes equipped with secure enclaves”

The Secret Network describes itself as a “decentralized network of computers (secret nodes) that utilize trusted execution environments (TEEs) to enable secure, private computation over encrypted data secure”.

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