Secret Network Announces Partnership with Modular Settlement Layer dYmension
Secret Network, which provides data privacy for smart contracts, announced a partnership with dYmension, which will provide the tools and infrastructure to network and aggregate Cosmos ecosystem layer 2 data, reducing the pressure on on-site traffic and expanding derivability.
dYmension's blockchain platform is the first settlement layer supporting enshrined rollups in the Cosmos ecosystem. An enshrined rollup is a scaling solution that is embedded in the protocol logic, resulting in dramatic improvements in scale and cost.
Yishay Harel, CEO of dYmension, expressed his hope to find innovative scaling solutions so they can continue to grow.
Secret Network is the first blockchain with data privacy by default, allowing users to build and use both permissionless and privacy-preserving applications. This unique functionality protects users, secures applications, and unlocks hundreds of new use cases for Web 3, using Tendermint's Byzantine fault-tolerant consensus algorithm of Proof of Equity (PoE).
Guy Zyskind, CEO of SCRT Labs, said about the partnership that “Secret Network's user base has grown astronomically in the past few years, and the blockchain becomes more complex with that kind of growth. We want to continue to be the platform people use to build on Cosmos and to do that, we must ensure our platform keeps operating flawlessly.”
Image source: Shutterstock
SWEAT: The Token to Convert Steps, Movement into Crypto