Enigma and Aion form partnership to benefit all blockchain projects
Enigma announces a new partnership to bring secrecy to the blockchain inthe form of "secret contracts". Aion and Enigma will join forces to both provide scaling in a blockchain independent manner and to bring privacy to all blockchains. I mentioned Ethereum because Ethereum in particular has the issue of how will it scale? Computation resources are still relatively scarce for smart contracts and privacy right now doesn't exist on Ethereum except for cryptographic primitives.
Enigma works by what is called Secure Multi-Party Computation. This is why we sometimes see it called EnigmaMPC. The focus by researcher at Enigma is to figure out how to allow smart contracts to compute private data. This could have many intriguing use cases and will potentially benefit all blockchains in the space. Enigma will in my opinion have some challenges with regard to efficiency because homomorphic encryption is notoriously inefficient even though they claim in the whitepaper to be using somewhat homomorphic encryption which is perhaps a lot less bad than some other forms.
At the same time perhaps you don't really need a whole lot of complex computation for most smart contracts anyway so a lot can be done with this approach to secret contracts even if it is calculator level computations. Just as EOS is an operating system for all projects willing to use it, there is a similar model where Enigma wants to be the ultimate private computation technology for the space. As a result I disclose here and now that I am a holder of the ENG token and will hold for the long term (years).
Enigma can be purchased as ENG on Bittrex: https://bittrex.com/Market/Index?MarketName=BTC-ENG
Ethereum is looking verry strong.
Problems are getting solved fast and the project keeps moving forward.
it's looking strong but why so many off chain options. They need to fix the transaction stack or non of this is going anywhere. Vaporware
Very good post @dana-edwards
if ethereum scales wouldn't this be a problem for agoras?
Not at all. They are different use cases.
Glad you brought this one to my attention again, last week. I’d heard of it while taking the MIT Fintech: Future Commerce course last year, though never looked far into it. Considering it’s MIT alumni driving the project and it’s plugged into that whole community, it’d be reasonable to expect this one to have a lot of prospect.