SCRT Surges After Unveiling v1.11 Adds New Secret Ethereum Features; Babylon to Introduce Bitcoin Staking Protocol for Enhanced Security and Utility in PoS Chains at Cosmoverse

Daily Top Performer — Secret Network (SCRT)



The SPX index is up 0.01%, hawkish comments from Fed Governor Bowman and a surge in 10-year T-note yields to a 16-year high contributed to market jitters. The broader cryptocurrency market is up, with Bitcoin and Ether rising 2.67% and 0.29% respectively, in the past 24 hours. 



Today’s outperformer is SCRT, which surged 4.7% in the past 24 hours after launching v1.11 boosting Ethereum interoperability and enhancing user privacy features.



Secret Network (SCRT), launched in February 2020, is a privacy-focused blockchain using encrypted smart contracts to safeguard user data. Recently, SCRT upgraded to version 1.11, enhancing its privacy features and interoperability with Ethereum Virtual Machine (EVM) compatible blockchains. Additionally, private push notifications were introduced, reducing network congestion by directly alerting users about on-chain events. This upgrade is a key step in Secret Network's ongoing initiative to bridge the gap between the Secret and Ethereum ecosystems.



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Talk of the Town:





Babylon plans to introduce its "Bitcoin Staking Protocol MVP" at Cosmoverse. The protocol aims to unlock the unused potential of idle Bitcoins to enhance the security of Proof of Stake (PoS) chains and decentralized applications. It allows PoS chains to stake Bitcoin instead of their native tokens, which improves security and mitigates inflation. The protocol has gained support from key Cosmos chains and is designed to seamlessly integrate Bitcoin staking into various PoS systems. Babylon plans for its technology to be adopted in ecosystems like Cosmos, where there is a clear demand for Bitcoin staking.