Enterprises adoption of blockchain is low because of one issue of data privacy and bringing data onto a blockchain due to its public nature. This is a gap secret network community and the implementation of secret contracts is trying to close. However, with the latest acquisition of DECO by Chainlink. Those that not make Chainlnk a major competition for the secret Network community and Enigma?
With the acquisition DECO, Enterprises will be able to prove the state of private data, to other enterprises and blockchain networks, without ever revealing the data held in their internal systems, but this happens before the data is ever brought into the blockchain space. The technology uses HTTPs (TLS) and zk-proof.
How is this move by Chainlink a threat to the secret network, given that Chainlink has already built solid relationship with enterprise clients as well as major blockchains. enterprise clients and blockchain projects can easily opt for Chainlinks solution for data privacy as a upsell to Chainlinks oracle features.
Due to the potential for growth that exists in this space, seems to me that there is room for many different approaches to solve the same problem. Allowing all to be successful projects.
The real question to ask the Enigma boffins is possibly the point of difference between SCRT & other projects looking for the same solution.
Also possible alignments with major tech, business & Government clients if they are in a position to comment
Secret Network is unique in its offering there is no doubt in my mind compared to others that claim to provide privacy. My concern is that if enterprises use chainlink as an oracle solution to access blockchain capabilities and thier data is made private from the start before getting on the blockchain and being used in smart contracts as encrypted data, then this seems to take a lot of the market share from Enigma secret network.
I might be wrong in my thinking, but I guess I am asking for some clarity on this and would like someone from enigma or the network to bring some light.
I know that there was an initial collaboration between enigma and chainlink. does that partnership still exist? or has enigma been sidelined for the DECO solution?
i guess the difference with Secret/Enigma is that they are a solely dedicated blockchain for privacy.Thats their mojo…they havent gone and bought another company as an add on to their business like Chainlink…Chainlink has acknowledged how important privacy is by their purchase and this is a compliment of what Enigma has achieved …Chainlink has this now as part of their business, but they arent a dedicated blockchain of privacy, which is Secrets core focus!
my opinion
If you need to make a privacy-preserving computation on the data, you can’t use DECO, which is any time when you need to input the data into some state machine. You could use DECO to prove that someone has more than $5000, but if you want to use Alice and Bob’s account balance and put it into a state machine to compute some result, you need Secret Network.
Ethereum is supposed to be a decentralized global computer, but it is a computer where everyone can see everything that goes on within it. With DECO the computer becomes a little more private since you don’t have to put in explicit information for it to be valid. For example, instead of writing your exact age, you could write “over 18” and this will be verified using some external system. Secret Network is a decentralized global computer where everything could be hidden if the user wants, just like how a regular computer works (provided that there aren’t someone with root access spying on you). That means that you have no limitations and you could put whatever you want straight into the computer, like your exact birth date, your name, your parents’ names, your DNA, or whatever else and then you could ask the computer, for example, how closely related you are to someone else.
The point is, with Secret Network, you get everything in the box. DECO is still useful for proving things about stuff that exists in external systems. So the two work well together in my opinion.
Thank you for explaining the real world uses of SCRT against other systems in the " for the Dumbies " format.
You mentioned that it can be used as an add on for extra data security as well as stand alone, makes the future growth & utilisation of SCRT quite promising.