There’s a blockchain startup company that chose to name itself Enigma. Mysterious, puzzling, difficult to understand, the reason Enigma chose this name is …well an enigma to me, but regardless less take a look at what this startup has planned.
This startup was incubated in an MIT media lab and the team listed on their website represents that.
When you hear Enigma, think data, data, data, it’s all about the data sets.
You may remember my recent video that covered Santiment
Like Santiment, Enigma is focused on providing it’s users with data that they can use to make wise investments.
Unlike Santiment however, Enigma is giving it’s users free range to create their own data sets and to be an integral part of the platform. You can build a reputation, and get paid in the native coin ENG for subscriptions. Conversely, if you are interested in purchasing data rather than curating it, you can of course do so by purchasing it with ENG coins.
They have long term goals for data encryption technology, but this is their starting point.
Enigma will use both on chain and off chain transactions. The subscriptions, rewards and penalties will all be handled on chain, and the data storage and transmission will occur off chain.
I can’t make a video that features Enigma without mentioning the incident that occurred a little over 2 weeks ago.
Unfortunately there were some eager investors that were in the slack channel and on the mailing list who were fooled into believing that an additional pre-sale was available to them. In response to this, these eager investors forked over around 1,400 ether to the address of the hacker. Enigma did have a legitimate pre sale, but it was only open for accredited investors, and they had warned previously that they would not solicit funds through the slack channel or mailing lists.
There’s one more thing that we can learn from Enigma, and that’s the healthy reminder that it’s better to be overly cautious rather than overly enthusiastic when it comes to investing in new projects.
Before you decide to give anyone your money, you’d better be educating yourself on how to:
- Find official updates
- How the ICO is organized
- Who to ask if you have any questions.
In their defense, the hacker gained their trust because they had administrative access to Enigma’s official slack channel, website and mailing list. They attained this access thanks to the lax practices regarding passwords of the Enigma team. The hacker began falsifying information and was able to take advantage of individuals who did not question the sudden change in the ICO organization.
The Enigma team has since dramatically increased their precautions with passwords and finally enabled 2 factor authentication. They ensure that the website for their token sale has not been compromised since it is on a different and more secure server.
Speaking of their ICO, it is scheduled for September 11th.
Additional Reading/Sources:
Enigma Website
ICO Info
TechCrunch Article
Wired Article
Santiment Website
Great info
Yes it is
Also worth to mention that they increased their cap yesterday with 50% and screw the presale investors.
Is that a good thing or a bad thing?
Agreed. Ultimately people(investors) need to be smarter about where they throw their money.
You are correct my dear Crypto lady...that was the reason I didnt buy Enigma
I heard they really screwed up with token devaluation.
Yes, unfortunately I heard the news just after posting this. Really makes me wonder if these guys have a clue about what they're doing. First the password mix up, then a last minute complete reorganization of the ICO... I'm just going to sit back and watch what happens to this one.
En conclusión, crees que es bueno invertir en ENIGMA? Do you think is worth it to invest in enigma ?
That's for you to decide!
That's obvious men. I was asking her opinion. That's it.
Haha, OK. Let's see what she says....
You just look amazing heidi, great info too. Too many ICO's though and with Chinese clampdown its gonna be hard out there
A beautiful girl who understands such difficult topics ... You're a hurricane! I aspire to you!
very informative post upvoted!!
I have heard about Enigma ..
But i don't have much knowledge about it..thanks for the information ..
Great work as always. Maybe some brief overviews on red pulse and chain link (this is on another level)
I'm new in steemit. no daring to say much. I just said a very good post. always success! Thank you!
if any time see my introductory post is really the way of introduction in @steemit. please guide me and if there is time please see my post if I am worthy in @steemit.
Interesting one, but with all the craziness about ICOs I think I am going to stay away for a bit (have already invested in quite a few...)
Thanks for this great article. Great informations! Thanks for that.
Wow @heiditravels , it seems like over the last week or so you have review several of the projects that I've had noted to look into. You display the pro's and con's of the projects so well I feel like I will have to put in minimal effort looking for other things before deciding to invest or not and I thank you for that. Keep providing awesome content for us an the platform as a whole. You're a STAR!
It looks like they are off to a rough start. Even the name sounds scam-ish.
Enigma well that is interesting...lets see what such data can assist in making good investment choice.
Somehow i am more confident with Santiment
Todays Learned :)
How do you keep up with all these ICO's?
Интересно..)
damn I would invest just to be part of a badass enigma community.
thanks for the information. information is truly power
That’s a sort of consulting in data service and educating to invest or trade cautiously what sounds rather reasonable to be in
Excellent vid!
The name made me think of this great song.
Enigma - Return To Innocence
https://l.wildspark.me:8000/rJEIBUMub
Quite unrelated, but Enigma means riddle/puzzle in Greek. Let's see if they can solve the riddle of big data...
Wonderful write up
Nicely presented and very nice information.
I am nil about ENIGMA. so it will take time to understand. Or being a traveller i may not come to know more about enigma.
This is a trap that life make us learn, some people get it the first time, and some people never get it nor realise it and still loses huge amounts.
From my experience, this tip can be applied to many life practical case such as relationships, animals, objects, etc...
Great post @heiditravels... Thanks for posting it.
Thanks. Be aware and cautious.