To achieve the objective, Enigma will make use of IntelSGX (Software Guard Extensions) in building state-of-the-art privacy technologies. Enigma’s solutions will ensure that data is not compromised and computation over data is possible along with scalability.
Enigma’s solutions will be highlighted by Rick Echevarria, Vice President, Software and Services Group and General Manager, Platforms Security Division at Intel Corporation, while presenting a keynote speech today at Cyber Week 2018 in Tel Aviv.
Rick Echevarria said “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.”
According to Enigma, the major challenges faced by blockchain networks are privacy, security, and scalability. Enigma has stated that it is pleased to collaborate with Intel to improve the privacy protocol and other related technologies for publicchains.
How Enigma provides privacy?
With Enigma, “smart contracts” become “secret contracts”, where input data is kept hidden from nodes in the Enigma network that execute code. Without this functionality to protect sensitive data, blockchains and smart contracts are either useless or not truly decentralized. Enigma is the missing piece to a decentralized future.
Real-world use examples
- Healthcare, Genomics – data can be provided to research companies without compromising privacy.
- Credit data – Borrowers can prove creditworthiness in a decentralized system without exposing their data directly to lending institutions.
- IoT- Enigma can provide the requisite privacy for off-chain computations.
Enigma is slated to launch its testnet in the coming weeks. In the second half of 2018, Enigma aims to complete and launch its mainnet. Following the announcement, ENG tokens have rallied about 20% to reach $1.70.