What is Enigma and is it key to crypto's future?

05 Aug, 2018
by Arthur Sillers
News
What is Enigma and is it key to crypto's future?

Quant the Catalyst Trader, a crypto commentator published an article on Medium yesterday which claimed that Enigma will undergird the next big wave of crypto's value.


The writer notes that Vitalik Buterin described the current crypto market as the “the tail end of a bubble.” Buterin claims that most value in cryptocurrency is speculative trading by investors, and the optimism is disappearing. Today, Bitcoin fell below $7,000. Though market bulls believe that crypto value will rally, to continue to create long lasting value the crypto community will have to continue to innovate and create useful products in order to attract influxes of capital.

Quant believes that the key to the next step in crypto development lies in Enigma. Enigma is a privacy protocol which allows for the secure transfer of information. Originally started at MIT, it utilizes decentralized computation, and incentivizes activity with the ENG token.

Quant argues that Ethereum's smart contract protocol and Enigma's privacy protection are both represent a key 'value unlocking mechanism for blockchain.'

One of the original promises of blockchain based currencies was financial freedom from institutions and privacy in fiscal transactions. While cryptocurrencies are seeing a lot of growth from their adoption by financial institutions, cryptocurrencies could utilize private transactions to create value which didn't rely on traditional investor speculation.

Quant argues that completely private transactions and information transfers could create a lot of value for financial institutions, healthcare systems and global supply chains' which could lead Enigma to be a central aspect of 'Web 4.0.'

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Read more about: Enigma (ENG)

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