Enigma (ENG) Private Protocol - ICO Review, Rating and Details of Enigma ICO (Token Sale) - Rating: Not Rated

Enigma is a crypto platform that’s trying to solve the problem of privacy on the blockchain by giving access to data storage and privacy while remaining scalable. Enigma aims to extend Ethereum Smart Contracts by introducing secret contracts.

Secret contracts would operate off-chain, meaning the execution of the contract doesn’t occur on the Ethereum blockchain, but rather sorts any related data into pieces, encrypts those pieces, and distributes them redundantly among Enigma nodes.

Problems & Solutions

Our internet today is broken and over-centralized. A more decentralized internet, based on decentralized protocols, can create enormous value, opportunity, and freedom for millions of people. But to realize this dream, we must first solve many challenges.

  • Data Privacy : Blockchains are bad at privacy by design. This greatly limits the kinds of applications that can be built in every field, from finance to gaming to healthcare.

  • Usability: Decentralized applications are difficult to use, and without privacy, many new problems are created for users trying to interact with these applications.

  • Scalability: Intensive and repetitive computations on blockchains are far too slow and expensive to be viable.

  • Data Ownership: Current solutions for sharing data off-chain still lead to silos of data that belong to corporations, not people.

Enigma’s protocol helps solve all these challenges by moving computations to a decentralized off-chain network that keeps data encrypted and secure. This means more value, more opportunity, and more usability.

Features & Highlights

The Discovery release of Enigma has plenty of exciting new features, including secret state, Rust-based secret contracts, private outputs, and more. Some of the applications we're excited about include:

  • Access-control for data (like price predictions or a pointer to an IPFS file)

  • Games where your "pocket cards" must stay secret (like Gin Rummy or Poker)

  • Private voting, without a commit-reveal scheme (actually, any use-case with a commit-reveal pattern can be streamlined with Enigma!)

  • Secret inputs to a credit-scoring algorithm

  • Sybil-prevention via social verification-- without exposing your user's data!

Token Allocation

"Token Sale","Community Incentives","Enigma Team" {"name": "Token Sale","value": 50},{"name": "Community Incentives","value": 25},{"name": "Enigma Team","value": 25}

Token Utility & Use Cases

The ENG token is critical to the function of the Enigma network, playing two primary roles: as payment for computation and as a requirement for staking. Critical networks like Enigma are made possible by the existence of utility tokens like ENG that serve as an alignment mechanism.

  • Primary role of ENG: paying for computations in the Enigma Protocol

  • Secondary role of ENG: staking for secret and consensus nodes

Team Members

  • Guy Zyskind, CEO and Co-founder. MIT Media Lab | 10+ years software development. Linkedin.

  • Can Kisagun, CPO & Co-founder. MIT Sloan MBA | McKinsey. Linkedin.

  • Victor Grau Serrat, Director of Engineering. MIT D-Lab | 15+ years of software development. Linkedin.

  • Tor Bair, Head of Growth and Marketing. MIT Sloan MBA | Snapchat | Optiver. Linkedin.

  • Moria Abadi, Senior Software Engineer and Researcher. IBM Research | 15+ years of software development. Linkedin.

  • Nir Zyskind, Director of Business Development (EMEA). IVC Research | MBA, College of Management. Linkedin.

  • Ainsley Sutherland, Product and Partnership Strategy. Consensys | Buzzfeed. Linkedin.

  • Frédéric Fortier, Senior Software Engineer. Quant Trading | 10+ years of software development. Linkedin.

  • Lena Kleyner, Senior Software Engineer. Qwilt | 10+ years of software development. Linkedin.

  • Aditya Palepu, Software Engineer. Former Algorithmic Trader / Researcher. Linkedin.

  • Avishai Weingarten, Software Engineer. Intel | Bar-Ilan University. Linkedin.

  • Aaron Mayer, Community Marketing Manager. Brown University. Linkedin.

  • Alex "Sandy" Pentland, Advisor. Director of MIT Media Lab Entrepreneurship Program. Linkedin.

  • Paul Veridittakit, Advisor. Partner at Pantera Capital. Linkedin.

  • Bill Barhydt, Advisor. CEO of Abra. Linkedin.

  • Josh Lim, Advisor. Head of Trading Strategy at Galaxy Digital. Linkedin.

Partnership Overview

  • Outlier Ventures - Outlier Ventures is a venture platform that supports the development and growth of emerging technologies. To do this they advise and invest in talented teams, and support businesses which create value for an open data economy.

  • Intel - Intel Corporation (commonly known as Intel and stylized as intel) is an American multinational corporation and technology company headquartered in Santa Clara, California, in the Silicon Valley.

  • Ocean Protocol - Ocean Protocol is a decentralized ecosystem aimed at unlocking data for AI consumption. To facilitate this, the Ocean ecosystem will provision data assets and associated services along with AI models for the creation of orchestrated solution supply chains that can be both verified and privacy preserving.

  • Datawallet - Datawallet is a decentralized consumer to business (C2B) data exchange. Datawallet empowers individuals to derive value from the data they create and provides companies with best in class analytics based on a completely new data universe.

  • Colendi - Colendi is a decentralized credit scoring and microcredit protocol which uses blockchain technology to deliver/provide innovative credit scoring and a universal financial passport that serves as a bridge between lenders, merchant, and unbanked/underbanked microfinance borrowers globally.

  • 2key - 2key is re-inventing the link. Our protocol fuses blockchain with HTTP, allowing smart contracts to be played out from web links, embedded with groundbreaking multi-step tracking technology and automatic rewarding. We’re using this innovative technology to build the 2key Network — a decentralized platform that empowers anyone to create smart links that incentivize and fairly reward anyone who shares them.

  • Eximchain - Eximchain is creating the first privacy-focused, publicly available, enterprise-ready blockchain ecosystem for global supply chain. Founded in MIT in 2015, Eximchain has built team and client relationships across three countries.

  • Datacoup - Datacoup provides apps and tools for individuals to reclaim control of their data and monetize it through a blockchain-based data marketplace. Such data includes demographic, purchase history, search and browsing, fitness, social and other data-sets.

  • ReBloc - ReBloc is a decentralized real estate data marketplace. We allow parties to transact directly and freely, without the need of marketplace middlemen, and with unprecedented levels of data quality.

  • Portal Network - Portal Network is an incentivized and fully-decentralized platform that provides blockchain protocols and projects with blockchain name service (BNS) governed by smart contracts. In addition to our BNS technology, Portal Network has developed a product suite which allows both technical and non-technical users to create, deploy, and experience decentralized websites and applications.

Social Media Links

Additional Links

Twitter Updates

  • Are you ready for the Genesis Game? Our friends at @secretnodes are making it easy for you to get started and help… https://t.co/URv2KiKV95
  • Reminder: the last day of the ENG token snapshot is Tuesday, September 24th. After this, testENG will be distribute… https://t.co/0yPoVK37S4
  • Reminder! The ENG token snapshot will continue until September 24th. After this, testENG will be distributed, the G… https://t.co/lmjiRNWeEe
  • NEW: Earlier this month, our US team returned to our roots in Cambridge, MA and sponsored our first ever API prize… https://t.co/yLQjiZbzue
  • RT @coincenter: The Federal Reserve of St. Louis has published an excellent paper on payment systems and privacy. https://t.co/3kTk1utHIk
  • The Enigma token snapshot is ongoing! We're taking daily snapshots of ENG holdings from now through Sep 24th, then… https://t.co/KkdBa1Wx88
  • This week we released our latest Development Update! The ENG snapshot is underway, we're deep into development to s… https://t.co/TfzZU2QU91
  • NEW: We've just released our August Development Update! Our mainnet ENG snapshot is underway, we're deep into devel… https://t.co/YcqJV28cwm
  • Every day, a new privacy horror. In the decentralized future Enigma is helping build, this type of exploitation of… https://t.co/jPCqzkO0d4