The idea about Enigma was initially conceived in 2015 when it was a research project at the Massachusetts Institute of Technology. The initiators of the idea are people with impressive careers in the blockchain field. But on top of that, the advisory board includes Professor Alex “Sandy” Pentland, whose work, according to Forbes, has made him one of the seven most influential data scientists in the world.
Enigma is one of the most ambitious projects in the crypto space. The cryptocurrency protocol is capable of fixing two big blockchain problems such as:
The description of the cryptocurrency should include information from the official website regarding the first steps of the coin on the market. Fundraising for the launch was carried out through crowdfunding, which raised $ 45 million. As a result of ICO 75 million tokens were sold out, all of which were purchased by investors in just a few hours.
As you can see from the White Paper, the project is a decentralized system with a high level of confidentiality. Within its framework, programmers can create and test crypto platforms that will not be accessible to third parties until the work receives the status as completed.
Enigma ensures data confidentiality through the use of multiparty computation (MPC) and a distributed hash table (DHT) outside the network. Information is requested in a decentralized way. There is not a single node participating in the process which could have full access to the requested data, the information is stored fragmentally. Enigma opens access for the participants only to the final figures, and the initial ones are hidden for everyone, except for those parties who personally entered them.
Today Enigma is an ERC-20 token. It uses the Ethereum blockchain.
Enigma seeks to expand Ethereum smart contracts by introducing so-called “secret contracts” that run on a separate second-level Secret Network (SCRT).
Secret contracts mean Enigma smart contracts in which blockchain data is stored in an encrypted, private way, but it can still interact.
These contracts operate outside the network: the protocol breaks the Smart Contract and any associated data into parts, encrypts these fragments, and distributes them selectively among the Enigma nodes. It turns out that the nodes of the system can prove the accuracy of calculations and processes without disclosing confidential information that is inside.
ENG rate is currently USD 0.23. The cost of the cryptocurrency has increased by 4.35% in 24 hours. ENG trading volume per day (24 hours) on exchanges amounted to USD 130,640.00. ENG market capitalization is USD 18,470,600.00.
Bitgur considers that in the next 30 days ENG price will be traded at USD 0.271 with USD 0.4015 as an upper border and USD 0.15899998 as the bottom one.
Enigma is a profitable investment based on Digitalcoin forecasting with its price growth in the upcoming future. 1 Enigma (ENG) price can roughly be up to USD 0.35358514 in 1 years’ time and up to USD 0.52230339 in 2 years’ time. The Digitalcoin experts look for the asset price to become up to $1 in 6 years’ time.
Wallet Investor Enigma сoin price prediction varies from USD 0.137 to USD 0.951 in one year emphasizing on the long-term earning potential of + 594.43% in one year. The company experts believe that in five years (2026) Enigma future price will be USD 2.167.
Why can you trust this project? For example, because it is not offered by dubious individuals, but by representatives of the Massachusetts Institute of Technology. A large research center has been implemented on its basis, as well as developments in the field of AI, robotics, and other areas in demand in the third millennium are underway. Nevertheless, the project is incredibly bold and promising, and, most importantly, the Enigma team sees real solutions and creates many applications that can be used in different areas of our life. The road is not easy, but this is what can change the world.