Secret Network’s programmable privacy enables non-private tokens to be wrapped into their private and fungible equivalent through the Secret Network Improvement Proposals 2020 ( known as SNIP-20 standard), thereby providing complete confidentiality and anonymity through viewing keys via Secret contract. For example, SCRT can be wrapped into sSCRT(pronounced as secretSCRT) through SNIP-20 standard. Hence, sSCRT is a privacy-preserving and fungible equivalent of SCRT. Whenever you transact using a wrapped token such as sSCRT, the transaction remains private and nobody knows whether you send/receive sSCRT to/from whom.
All native tokens like SHD, SEFI, ALTER, SIENNA are SNIP-20s and have privacy by default, all coins and tokens bridged from other networks like sATOM, sETH and sBNB are also private by default.
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Secret Tokens really are the backbone behind the programmable privacy of Secret Network and have various different use-cases.
Learn more about Secret Tokens on the Secret Network website.
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If wallet A sends 100 sSCRT to wallet B this will happen:
- Block explorer denotes that wallet A interacted with the sSCRT smart contract (It is not known whether this was a send, buy of NFT, viewing key etc. Amount of tokens is also unknown)
- Wallet B will NOT have an interaction listed on chain (aka on the block explorer)
- Wallet B can use their viewing key to decrypt the receiving transaction so will see the address of the sender and the amount they got.
{% hint style="info" %} Want to learn about the Tech enabling Secret Tokens? Check out the SNIP-20 reference implementation or the section on permissioned viewing / access control . {% endhint %}