Powered by Solana, Secretum Is Making Trading as Easy as Messaging

© Reuters. Powered by Solana, Secretum Is Making Trading as Easy as Messaging

• Despite the popularity and success of WhatsApp and Telegram, they were targeted multiple times.
• Looking at all these events, a group of developers claimed to have created Secretum.
• Secretum is a blockchain-based messaging app that ensures total messaging security and privacy.

Social messaging apps have become an effective way to communicate and engage with others. As of now, billions of people access messaging apps on a daily basis, which means it’s important for business as well.

Currently, WhatsApp is the most popular one, followed by Facebook (NASDAQ:FB) Messenger, WeChat, QQ, and Telegram. Although, it is WhatsApp and Telegram that are the top players standing out among others.

However, both apps share a common weakness, despite their popularity and success. The apps were targeted multiple times, leading to personal data leaks, cyber thefts, and violations of privacy.

In September, WhatsApp was fined €255 million for data processing and data sharing violations by the EU’s privacy regulator. In 2019, hackers inserted spyware in users’ WhatsApp accounts, allowing them to collect private communications. Last year in August, Telegram was hacked. This resulted in the leak of the personal data of over 500 million users.

Secretum — a Blockchain-Based Messaging App

Looking at all these events, a group of developers claimed to have created Secretum — a blockchain-based messaging app that reportedly ensures total messaging security and privacy.

According to the website, Secretum is the first decentralized, encrypted, and secure messaging app, powered by Solana. According to the team, the platform provides many advantages like end-to-end messaging encryption for all communications without censorship moderation but offers complete user privacy.

In addition, the platform also offers a fully anonymous sign-up process via the user’s crypto wallet address. Thus, users don’t have to enter any personal data, eliminating the risk of data leaks and hacks. On top of that, the firm says it does collect data for marketing purposes.

Secretum also provides a network built on the SER token. This allows staking and rewards for users who engage with the app like sending messages, storing files, and helping expand the Secretum network.

Furthermore, Secretum has an integrated crypto trading feature that allows users to trade P2P. Thus, all crypto assets and non-fungible tokens (NFTs) can be traded instantly at a low cost, thanks to Solana technology.

The platform enables traders to contact each other one-to-one or one-to-many with message ‘blasts’. It does so by using liquidity pockets in the crypto space, thereby improving trade prices and execution times.

Also, Secretum helps match buyers and sellers, who can find and contact each other via their wallet addresses seamlessly. By replacing exchanges with wallet-to-wallet, Secretum sustains prices and market flows.

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