IDEP Network April Update

IDEP Network
IDEP Network
Published in
3 min readApr 6, 2022
IDEP is going dark mode 😎

Big changes are coming for IDEP Network this month. Over the past several months it has become very apparent to us that over regulation is encroaching on the crypto sphere. Privacy and asset sovereignty are one of the biggest topics of discussion these days. In good conscious we cannot continue to keep building and launch our mainnet without the added protection of privacy. For this reason we have decided to utilize Secret Network’s codebase and build on-top of it. We created this article to quickly summarize why we have taken this drastic decision and what is means for the future of IDEP Network.

Domain-Specific Blockchain

We consider most blockchains to be a general systems, which have application to an unlimited range of use cases. We believe that Secret Network concentrating towards a general use case has severe draw backs in the context of scalability . In this sense, IDEP Network is creating a next generation domain-specific blockchain with an ecosystem that is tailored to the needs and nature of augmented reality and contemporary culture.

Scalability

The main pressing challenge of Secret Network and other blockchain technologies has been scalability of their networks. While many different use cases can be ran on any particular blockchain, it has become clear that domain specific networks are a lot more efficient. Hence IDEP Network is creating a separate blockchain that focuses on real-world use cases marketed towards a specific user base.

What the two networks will have in common​

IDEP is being released on the same codebase as Secret Network, which means they share the same underlying architecture. Both networks also share key innovations like data privacy by default, on-chain governance, on-chain upgrades, and IBC for interoperability. Governance on both IDEP and Secret Network are designed to be decentralized and permissionless. We expect over time the networks will evolve independently, diverging according to the decisions and proposals of their separate communities.

Key Concepts

  • IDEP Network will not be a competitor with Secret Network. We intend to be a value added chain to Secret Network analogous to how Kusama adds value to Polkadot.
  • Smart contracts will be governance gated. We have a very specific vision for IDEP, to keep the project focused and to not compete with Secret Network, a DAO will be created that will govern smart contract deployment.
  • IDEP will still keeps its vision. Just like before IDEP Network will still concentrate on Augmented Reality and our AR Cloud platform Spacetime.
  • There are no plans for DeFi. There are no plans to build any defi dapps on IDEP Network. Our goal is to create value for Secret Network not take it away.
  • We plan to give back. Since codebases will be very similar (at first) IDEP Network plans to fully support the Secret Network community and give back both in grants and development.

Revised tokenomics and new launch date will be released in the next Medium article later this week.

Make sure to follow us on our socials to catch the latest 😎

Twitter: https://twitter.com/idepnetwork

Discord: https://discord.gg/Jrarctk4hG

Telegram: https://t.me/IDEPNetwork

Website: https://idep.network

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