The Enigma Project (ENG) announced its involvement with the research arm of Intel, to produce robust privacy solutions.
“Today we announce that Enigma is partnering with Intel on research and development efforts to advance development of privacy preserving computation technologies. As a part of this effort, Enigma will utilize Intel SGX (Software Guard Extensions) in building our groundbreaking privacy technologies,” wrote Guy Zyskind, founder and CEO.
While crypto projects are gaining more mainstream attention, there are still unresolved problems, mostly to do with privacy, security, and scalability. The involvement of Intel is yet another example of mainstream companies attempting to explore the opportunities of this technology.
“Intel is committed to enabling business transformation by shortening the time-to-value from blockchain implementations and working with the industry to address privacy, security and scalability challenges. Enigma’s protocol approach is helping solve the challenges on public blockchain networks and improving data privacy and smart contract security,” said Rick Echevarria, Vice President, Software and Services Group and General Manager, Platforms Security Division at Intel Corporation (NASDAQ:INTC).
After the announcement of the partnership, the ENG digital asset received a boost, trading up 20% to $1.73. Volumes expanded to about $14 million.
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Most ENG trading is concentrated on Binance, with a strong influence of the ENG/BTC pair, more than 70% of all trades.
https://twitter.com/EnigmaMPC/status/1009782548791209984
While blockchains were considered foolproof, in fact errors and bugs compromise security and allow for large-scale exploits. Smart contract security is central to the smooth running of systems and distributed apps.
Enigma also tries to look at problems of privacy, since most public blockchains allow for too much scrutiny of large-scale wallets and attention-grabbing transactions. The Enigma project works toward private token transactions, to obscure user behavior with transactions and distributed app usage.
Enigma is still in the ERC-20 token stage, with a test net coming in the next few weeks. The mainnet is planned for the second half of 2018.
This article appeared first on Cryptovest
