PrivaCrip (PRIVATE) is a layer-1 blockchain (rare to find unlike layer-2) and is built with the Cosmos SDK employing the proof-of-stake (PoS) and the Byzantine fault-tolerant consensus algorithm. It comes with its native PrivaCrip token (PRIVATE) that’s currently in the presale stage which helps it power the entire blockchain!
Nodes on its network carry out computations to verify transactions and achieve consensus and security. PrivaCrip (PRIVATE) allows for chain agnostics and works with many networks that use the Cosmos InterBlockchain Communication protocol (IBC).
To make sure data is secured within PrivaCrip (PRIVATE), encryption protocols, trusted execution environments (TEEs) and critical management are etched inside the hardware specification of all the network validator nodes within the ecosystem. The TEEs then confirm that the nodes cannot view the computations happening inside the secured environment. This consequentially protects the underlying data privacy when the computations occur.
PrivaCrip’s (PRIVATE) underlying ledger is open for all; the native PrivaCrip token (PRIVATE) cryptocurrency helps with governance, gas fees and transactions. This platform can implement arbitrarily difficult data privacy controls allowing it to carry out what is known as “programmable privacy”.
PrivaCrip (PRIVATE) tokens can be wrapped within fungible and private forms through the “private contract” that complies with the PrivaCrip Network SNIP-20 standard; this token is already in presale and can immediately be bought!