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As the title states, is a smart contract's live machine code encrypted, ciphered, or otherwise shielded? Say a user wants to create a SC to send whatever Ada it receives, at a specified interval, to another wallet (or more than one wallet proportionally). Could that be a workaround to preserve privacy with a published public address?

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No, on-chain scripts are completely public and can be decoded easily to reveal the data stored inside the contract.

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