Enigma: the project touting a scalable and private platform for decentralised apps have landed a partnership with Intel.
The Enigma (ENG) project has a particular emphasis on privacy, continuingly enhancing its encryption protocols and cryptography. In its latest move towards a more secure platform, the project has teamed up with Intel’s Software Guard Extensions (SGX).
SGX is effectively a set of central processing units or CPU’s which allow the user to encode regions of memory, known as enclaves which are protected from other processes. Essentially it's redaction for computer data, allowing users to protect and secure select code and data from modification and disclosure.
From @RJEche and @Intel: "Enigma has developed a unique privacy protocol that uses Intel SGX to protect data, while allowing computation over the data. In our collaboration, we’ll work together to integrate this functionality for private smart contracts." https://t.co/lK5l2G26V5— Enigma Project (@EnigmaMPC) June 20, 2018
A spokesperson for Enigma elaborated on their vision of privacy to Coindesk:
"Privacy is currently the biggest barrier to smart contract adoption. Blockchains are good at correctness, but bad at privacy by design. Smart contracts and decentralized applications will need to be able to use private and sensitive data to see global adoption.".
The coalition of Enigma and SGX will be unveiled later this year when the project’s proof of concept is launched. The Enigma team hope to land other such industry. partners to help develop their applications.
Smart contracts are notorious for their flaws, which are often taken advantage of by hackers. In June last year, Parity’s mutlisig wallet became the target of hackers, stealing over 150,000 ether from multiple users. Perhaps the most infamous of all time was the DAO hack, which occurred the year before the Parity hack, resulting in over 3.6 million ethers being appropriated, all due to exploits within a smart contract.
According to Enigma’s roadmap, they will be implementing their mainnet in the coming months:
Meanwhile, the news of the partnership seems to be doing wonder for ENG’s price; currently up +22% ($1.75) over the past 24 hours and rising fast.
Prices correct at the time of writing.