About Enigma
Enigma is a crypto platform that’s trying to solve the problem of privacy on the blockchain by giving them access to much-needed storage, privacy, and scalability. Enigma wants to extend Ethereum Smart Contracts by introducing secret contracts, a brand of smart contract that gives users an element of privacy that’s not intrinsic to current blockchain protocols. These contracts operate off-chain, meaning the execution of the Smart Contract doesn’t occur on the Ethereum blockchain itself. This is how the Enigma protocol works: it breaks up the Smart Contract and any related data into pieces, encrypts those pieces, and distributes them redundantly among Enigma nodes. Enigma has a protocol level. The Enigma privacy protocol allows for decentralized computation of sensitive data. It has a platform layer too. On this protocol, dozens of platforms such as data marketplaces and AI exchanges can be built. In its application layer, it enables thousands of truly decentralized apps that require private computation and secure data.Its first application is catalyst. Catalyst is the first application to be built on the Enigma protocol, already active with tens of thousands of users. Catalyst is a revolutionary platform for data-driven cryptoasset investing and research, built for professional crypto traders. Enigma has a team of MIT graduates, and they’ve been working diligently to ensure Enigma’s success. Guy Zyskind, Enigma’s CEO and cofounder, helped start the project while he was still a student at MIT. He has more than a decade of software development experience with an M.S. from MIT. Sandy Pentland, a well known MIT data scientist who gained fame for his work in data-mining social interactions, is Zyskind and Nathan’s adviser on Enigma. With other advisors such as Alex Pentland, who sits on the Advisory Boards for Google and Nissan, CEO of Abra, Bill Barhydt and director of MIT media lab, Prof. Alex Pentland, it is hard to difficult a fault in the team.
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Market Stats
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Additional details
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ENG vs markets
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Tags
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0xf0Ee6b27b759C9893Ce4f094b49ad28fd15A23e4 | |
Gnosis | 0x7a7d81657A1A66b38a6cA2565433A9873C6913B2 |
Price history
Time | Price | Change |
|---|---|---|
Today | $0.0126 | NaN% |
1 Day | $0.0126 | 0.00% |
1 Week | $0.0126 | 0.00% |
1 Month | $0.0126 | 0.00% |
1 Year | $0.0156 | 0.00% |
Coinbase insights
Recent trends
The latest ENG price is $0.0126.
FAQ
Enigma is a platform that seeks to use privacy-focused technologies to solve privacy problems related to internet mediums. The platform’s mission is to create systems and products that can speed up the adoption of privacy-oriented decentralized technologies. To fulfill this mission, the platform has developed products and services that aim to focus on protecting sensitive and private data by allowing secure computation and data sharing. According to the whitepaper of Enigma, the implementation of the following steps seeks to achieve a secure structure:
Besides these measures to ensure a compact security structure, Enigma has also developed a secretsmart contract. These smart contracts can hide data completely from nodes while solving problems related to privacy and correctness. The term node denotes computers that can connect to a crypto network. Further, the platform aims to enhance its security structure by collaborating with Intel to develop end-to-end scalable decentralized applications (DApps). Along with that, Enigma has also launched a project called the secret network. This is an independent blockchain that aims to provide data privacy by default. Also, it can be used for private applications, suitable for the Web3 version. The Web3 version is the third version of the internet.
Furthermore, to facilitate functioning on the platform, Enigma launched its native cryptocurrency, the ENGtoken. The token aims to function on the Ethereum network using smart contracts and to be used as a medium for paying the gas fees while fueling the ecosystem.
The tokens were claimed to be thoroughly audited by the OpenZeppelin team before the public distribution of the tokens. OpenZeppelin is a cybersecurity and service organization in the crypto space. Besides these functions, ENG tokens can also be swapped against SCRT coins, the cryptocurrency of the secret network, aimed to enable users to use the secret network for data privacy purposes.
The Enigma platform was launched along with its whitepaper in 2015 by Guy Zyskind, CEO of the organization. The token distribution of the platform started on October 11, 2017. The token has a maximum total supply of 150,000,000 ENG.
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Terms apply. Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Social stats
Popularity in posts
#2486
Contributors
59
Posts
74
% About Enigma
0.006%
Hold times
0 days
X (Twitter)
23.33% bullish
Sentiment
4.5 ★
Highlights
59 unique individuals are talking about Enigma and it is ranked #2,486 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Enigma has an average sentiment score of 90 out of 5. Finally, Enigma is becoming less newsworthy, with 0 news articles published about Enigma.
On Twitter, people are mostly bullish about Enigma. There were 87.5% of tweets with bullish sentiment compared to 275% of tweets with a bearish sentiment about Enigma. 12.5% of tweets were neutral about Enigma. These sentiments are based on 13 tweets.
On Reddit, Enigma was mentioned in 31 Reddit posts and there were 26 comments about Enigma. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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