We’re bringing privacy to Ethereum assets using Secret Network, the first public blockchain with private smart contracts - a.k.a. secret contracts with encrypted inputs, outputs and state. This project features a sealed-bid auction mechanism, which enables privacy network effects for "secretETH" and other secret tokens.
How It's Made
Our project uses a smart contract on Ethereum and a secret contract on Secret Network. More info: https://blog.scrt.network/secret-ethereum-bridge-privacy The bridge uses a leader --> signer architecture where the leader is responsible for watching the chain for new events. Once a new event is found, a transaction is proposed. Then, multisig participants take that proposed transaction, validate it was indeed triggered by an on-chain event and sign (or submit approval for) the transaction.