Enigma (ENG) - now Secret Network (SCRT) is a cryptocurrency made by an MIT-bred team of experts and co-founded by Guy Zyskind and Can Kisagun in 2017. It is a decentralized secure computation protocol that aims to solve the problem of privacy of any kind of blockchain computation - not just transactions.
The Enigma protocol utilizes “secret nodes” in its blockchain network where computations over encrypted data are performed. In doing this, Enigma can extend Ethereum smart contracts by introducing secret contracts. With Enigma, Ethereum secret contracts are computed off-chain on the Enigma protocol through multi-party computation (MPC). Moreover, Enigma’s distributed hash-table (DHT) technology enables data to be stored securely and privately off-chain while helping with scalability for the Ethereum network. Essentially, Enigma brings privacy to highly transparent and public blockchains while also increasing scalability by implementing off-chain computation.
The Enigma protocol hopes to be at the forefront of a decentralized ecosystem of world-changing applications powered by Enigma. It’s setting out to realize this vision by playing an integral role in the protocol layer, platform layer, and application layer. Some of the industries Enigma could potentially reshape include personal data, healthcare and genomics, credit, and the internet-of-things (IoT).
Enigma (ENG) is an ERC-20 token with a total supply of 150,000,000 ENG and a circulating supply of 74,836,171 ENG. The Enigma ICO was held in September 2017 where 50% of the tokens (100,000,000 ENG) were sold at a price of 1 ENG = 0.60 USD. The Enigma project raised $45,000,000 USD during the ICO.
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