dYmension to be the first rollup as a service on the Cosmos chain
TEL AVIV, Israel, April 13, 2022--(BUSINESS WIRE)--Secret Network, the privacy-first blockchain, today announced its partnership with dYmension, which will run layer 2 rollups as a part of the Cosmos ecosystem. Secret Network has seen skyrocketing network activity, and partnered with dYmension to improve scalability on its blockchain.
Rollups like those dYmension provides perform transactions outside the main blockchain and send the transaction data back to the main network, alleviating the pressure of heavy site traffic and enabling further user growth by reducing complexity on the layer 1. dYmension will provide tools and infrastructure to Secret Network to ensure easy building for users on the platform.
"This partnership makes perfect sense," said Yishay Harel, CEO of dYmension. "Secret and Cosmos are exploding in activity and looking to find innovative scaling solutions so they can continue growing – that’s our bread and butter."
Secret Network, the first blockchain with data privacy by default for smart contracts, allows users to build and use applications that are both permissionless and privacy-preserving. This unique functionality protects users, secures applications, and unlocks hundreds of never-before-possible use cases for Web3.
"Secret Network’s user base has grown astronomically in the past few years, and the blockchain becomes more complex with that kind of growth," said Guy Zyskind, CEO of SCRT Labs. "We want to continue to be the platform people use to build on Cosmos, and to do that, we must ensure our platform keeps operating flawlessly."
ABOUT SECRET NETWORK
Secret Network is the first blockchain with data privacy by default for smart contracts, allowing you to build and use applications that are both permissionless and privacy-preserving. This unique functionality protects users, secures applications, and unlocks hundreds of never-before-possible use cases for Web3. First launched on mainnet in February 2020, the network is supported by dozens of independent development companies (including the SCRT Labs core development team), world-class "secret node" operators, and thousands of Secret Agents around the world helping to advance the cause of data privacy for the decentralized web.
ABOUT SCRT LABS
SCRT Labs is the driving force and the founding core development team behind Legendao. Their mission is to create products and systems that accelerate the adoption of privacy-first, decentralized technologies. Learn more at SCRTLabs.com.
dYmension's blockchain platform is the first settlement layer supporting enshrined rollups in the Cosmos ecosystem. An enshrined rollup is a scaling solution which is embedded in the protocol logic, resulting in dramatic improvements of scale and cost. dYmension’s vision to rollups is as Cosmos is to blockchains. The network will provide all the tools and infrastructure needed to easily build and launch a rollup, enabling a future where metaverse apps, games and other ultra-TPS services can reside on the blockchain.
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On Behalf of SCRT Labs