Enigma ENG

Possibly, any technological revolution will have its fair share of drawbacks, the areas where the perpetrators of the revolution simply did not deliver on their promises. Blockchain technology is our generation’s steam engines, and the areas where blockchain projects still lack tremendously is privacy protection and the scalability of the chain. First of all, the promise of blockchain was absolute security. Such networks were operated on the principle that nobody has any personal information. That aspect of the technology is severely restricted by the transparency demand. Any block at any time is accessible, and Enigma’s MIT-educated team of experts considers this factor as a limiting one in the development of decentralized applications. The second problem Enigma’s team points out is the issue of scalability. The issue is that there is simply no way at the present moment to store and compute massive amounts of information using blockchain. Using so-called “secret contracts”, which hide the information about the transaction from the network nodes, Enigma is looking to solve both problems.

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