Why DeCC is Inevitable
Decentralized Confidential Computing is crucial for adoption
The Web3 ecosystem is still very small.
The total market cap of our glorious industry is smaller than that of Microsoft — a single software company. This only means one thing — Web3 is still in its infancy and has a long way to go to fulfill the original mission of decentralization and freedom, onboarding billions of people and millions of businesses, like Web1 and Web2 did before.
There are many things that need to happen for mass adoption to be possible.
The user experience needs to dramatically improve — this will, hopefully, be addressed by Account Abstraction wallets, Web2 login and recovery mechanisms and more.
The security needs to improve, and the perceived hacking risks need to go down — this is also being addressed by many companies and technologies.
Scalability needs to improve to allow Visa-like throughputs — people are working on that as well.
But there is one more thing that needs to happen — we must address the radical transparency of most existing blockchains.
Living on-chain is like living in a glass house — one’s every step is immediately observable (and observed) by thousands of eyes. It is clear as day, that if we want people and businesses to move a significant portion of their financial and social life on-chain, their data must be protected and cannot be accessible for anyone in just a couple of clicks.
I spent the second week of April attending the Paris Blockchain Week and EthDAM conferences. I had a chance to talk to many projects, and for almost all of them it was very clear that radical transparency will hurt scaling and mass adoption.
A non-custodial crypto banking application, making it easy to manage your stables and cryptos? Well, everything is visible on-chain all the time — will the customers like it?
A trading application where “guru” traders can sell their trading strategies? Well, everything is visible on-chain all the time — why would the customers pay when they can see everything?
People are talking about Decentralized AI — that’s a wonderful idea. Why can’t the future LLMs run in a decentralized way instead of being held by one monopolistic entity? They could, but do you want all your AI prompts and queries to be visible to everyone? Probably not.
Behavioral data, medical data, business data — people are talking about putting everything on-chain and making everything decentralized. That’s a great vision, but none of that is possible without data protection and confidential computing.
DeCC is here to provide solutions for this. Through different technologies, different approaches and different chains, Decentralized Confidential Computing will enable all those and more use cases, and will be one of the key enablers of mass adoption.
We believe that the Web3 adoption is unstoppable — more apps will be built, more utility will be offered to the end users, and more people will come.
This means only one thing — DeCC is inevitable. It is an integral part of the Web3 future.
And we at Secret are proud to work on the forefront of DeCC together with many other technology pioneers.
DeCC is Inevitable, this rolls off the tongue nicely.
DeCC is Inevitable.
About Secret Network
Secret Network is a layer 1 DeCC chain. Mainnet since 2020, Secret is one of the OG Confidential Computing chains. We offer a rich on-chain development ecosystem, as well as cross-chain infrastructure that allows builders on any chain to get confidential computing feature easily and securely.
Learn more and join the privacy conversation by connecting with our official accounts.
