“Privacy preserving computing is the future,” said Guy Zyskind of Secret Network after Quentin Tarantino’s NFT dropped

November 2nd, award-winning writer and director Quentin Tarantino Announce He will auction seven unedited scenes pulp Fiction As an irreplaceable token or NFT built on the secret network (SCRT). The digital assets will include the first unedited script of the movie, as well as secrets about the movie and its creator.

Although NFT will feature public metadata and serve as the cover of the underlying digital assets, only NFT owners can access content that has never been seen before—this is a unique feature of Secret Network. Regarding the drop, Tarantino said, “The Secret Network and Secret NFT provide a whole new world of connecting fans and artists, and I’m very happy to be a part of it.”

Secret Network is a first-layer protocol or blockchain improved infrastructure that can be implemented Default privacy smart contract Run on decentralized applications that span multiple chains. This means that the protocol can obfuscate data about the sender, receiver, and transaction status, thereby protecting the identities of all parties.Since the launch of the mainnet in February 2020, the project seems to have received great attention from developers, plus Token price rises sharply In recent weeks.

The day after the NFT fell, Guy Zyskind, the founder and CEO of SCRT Labs, gave an interview in an exclusive interview with Cointelegraph on news, various major blockchain developments, upcoming highlights, and his vision for Secret Network .

United Telegram: In your opinion, what are the advantages of casting NFT on the secret network instead of on the Ethereum blockchain?

Guy Ziskind: Essentially, the secret NFT is a superset of the regular NFT. Because it just provides you with more functions. Specifically, it allows you to hold private data, which means that as in the case of Tarantino, we can keep the actually interesting content as a secret and only the owner or the person who bought the NFT can view it. So in Tarantino’s case, you bought NFT, and NFT may have a cool art that everyone can see. This is what will happen, but the art is just the cover. Interesting things are encrypted as secrets, this is the actual handwritten script of pulp fiction, [containing] Many secrets about the actual movie. But the only person who can see it is the owner, and this is not what a regular NFT can do.

Two other important functions are: You can keep the owner of the NFT secret. In Ethereum, there are many situations like this. If someone buys NFT and he is a well-known person, then NFT becomes more valuable because people are tracking these transactions. The third interesting feature is randomness. Therefore, there is a recent Paradigm article, where they empirically show that a large number of NFT drops are played by robots because their randomness is not real. Unencrypted public blockchains like secret networks cannot just do proper unpredictable randomness.

CT: What are the highlights of the upcoming Supernova upgrade on November 10th? Where are you going from there?

Guangzhou: The upcoming upgrade is a hard fork. This will be cool. We will add IBC [Inter-Blockchain Communication] Because we are a Cosmos-based chain, then we will add a bridge to Osmosis. We will be in the center of Cosmos, Gravity DEX [Decentralized Exchange], When it also starts. We will be part of the Cosmos chain family connected by IBC. We will also connect to Terra. In fact, we have been working with Terra on the bridge for a long time, but now we will connect Secret directly to Terra through this IBC.

We have made many improvements to speed; the network will expand even better. We will reduce the cost of natural gas by 10 times. Because SCRT prices are soaring, gas is not as cheap as before.

We will improve the infrastructure for future NFT decline and future DeFi products. We are developing developer tools because we are starting to attract a large number of inbound developers who want to build on our network. There are currently $150 million in developer grants being provided.

We are accepting the decline of this Tarantino NFT, we will turn it into a very, very big thing, and we hope to bring more A-listers, who specialize in casting secret NFT on Secret Network. I can tell you that since yesterday, I have received five emails, they said: “We heard about this. We want to cooperate with you”, there are a few big names, so hope this will become the future A big thing.

CT: What progress has Secret Network made in DeFi?

Guangzhou: This network is about 100 times larger than me or the company I run.So we launched Secret Swap, and the transaction volume is close to 1 billion U.S. dollars [annualized], This is like a DeFi exchange that protects privacy. But now there is Sienna Swap, a company that raised $11 million, and they just launched their private DEX. They are now developing a private lending platform. As far as I know, this will be the first private lending solution in the crypto space.And Shade, it is launching something similar to UST [TerraUSD], But again, it will become the first stablecoin to protect privacy. So it will be like Monero, but a stable currency. Then they will launch private synthetic assets. Therefore, you will own private gold, private stocks, etc. Many of them will be launched at the end of this year.

CT: Would you say where is this technology now? In the future, the blockchain may process a large amount of sensitive personal information. So, for example, can a node be able to process digital visual assets submitted by users, such as a copy of a driver’s license or passport?

Guangzhou: An interesting use case—I know some use cases that try to build it on us—is to create loans that are under-collateralized. In our network, we can obtain things such as driver’s licenses. You can encrypt it.You can verify it against the program that performs encrypted KYC [Know Your Customer] And give that person a credit score or something similar. So I will definitely see this in the future. Some pilots have already done this. But I think it will take us several years to reach this scale.

CT: Astonishing. Do you want to share any concluding comments, statements or visions about Secret Network?

Guangzhou: For me, privacy-preserving computing is the future, and it must exist in a decentralized system, such as Secret Network. So I am happy to say that Secret Network is the only real-time system that can provide this. But I think when many people hear about privacy, they think of illegal activities. But for me, the use case of the secret network NFT and the collaboration with Tarantino, where he shares his art with the people who bought it, and only the buyer can actually see it, sell it, and show it to others Everyone is waiting. So this proves that we not only need to perform privacy protection calculations for illegal activities.