Secret Network, a privacy-first blockchain that provides data privacy by default, announced that the Secret Binance Smart Chain (BSC) Bridge has gone live on testnet. The news also follows an earlier announcement that the Secret BSC Bridge was undergoing “active development.”
According to reports, the creation of the Secret Binance Smart Chain Bridge is expected to make it possible for assets on BSC to move between Secret Network and BSC easily. It will also make it possible for assets to be used within the Secret DeFi applications. For applications like SecretSwap, a cross-chain, and privacy-first AMM.
NEW: The Secret #BSC Bridge has launched on testnet! 🎉
Our latest bridge brings programmable privacy to #BSC assets. Learn how to test the bridge and what's next for Secret and @secret_swap as we continue building our data privacy and liquidity hub.https://t.co/9g57crkSOE
— 𝕊ecret Network (@SecretNetwork) May 4, 2021
It is also important to note that this is the third Secret Bridge to pass the testnet stage. The previous ones were the Secret Ethereum Bridge, which is live on mainnet. It has also obtained more than $100M in Ethereum assets). As well as, the Secret Plasm Bridge, it was recently released on testnet. It aids the connection between Polkadot and Cosmos ecosystems.
“Now our work continues to ensure the Secret BSC Bridge arrives on mainnet ASAP!,” the official announcement said.
Notably, the Secret bridges bring “programmable privacy to assets from other ecosystems.” This gives them the opportunity to access the Secret Network as privacy-preserving “Secret Tokens.”
Additionally, the Secret Tokens are programmable like ERC-20s and can be utilized in applications, but they are private by default and can are similar to tokens like Monero. They can also be used to replace any asset, or they can be fully native to Secret Network.
Before now, Plasm Network, the multi-chain dApps hub on Polkadot, announced the testnet launch of its Secret Network (SCRT) bridge MVP. The bridge is also stated to be a major step in improving interoperability between Polkadot and Cosmos chains. The official blog post said that the Plasm Network Secret Network bridge is a bold step in the expansion of the Secret ecosystem.
As of the time of publication, the Secret token price is $1.78 with a 24-hour trading volume of $6,866,539. SCRT price also rose up by 13.1% 24 hours before. Besides, it has a circulating supply of 69.7 Million SCRT coins and a max supply of 181 Million.