Presentation and definition of the crypto-currency Enigma (ENG)

Presentation and definition of the crypto-currency Enigma (ENG)

  • Name of the crypto-currency : Enigma
  • Abbreviation : ENG
  • Where to buy ? Binance
  • Creation Date : October 2017
  • White paper of Enigma
  • Website of Enigma

The encryption system Enigma

Enigma is a protocol that encrypts data and works with a blockchain. Enigma online stores data confidential and secure, in a decentralized manner. This system has been launched by graduates of the MIT Media Lab, a research laboratory of the Massachusetts Institute of Technology. The objective of the project is to solve the two biggest issues of the blockchains of the most well-known, such as those of Bitcoin or Ethereum : the confidentiality and scabilité.

The operation of Enigma

Any anonymous user can store and share on the network of confidential information. Encryption and data security are ensured by all the member computers, via the blockchain. These are algorithms which deal with the content and these will never be made available in full to a different user than the owner. Enigma offers a new form of Smart contracts, there is talk of Secret contracts.

The tokens ENG

Enigma uses its own tokens, ENG. The total emission has been limited to 100 million units. It is a token ERC 20. These tokens will be used on the network to reward traders, to buy data and invest. During his ICO, the Enigma was a victim of hacking. The pirates have managed to hijack the database of e-mails and the e-mail Enigma to launch a false pre-sale. Cybercriminals are able to change the destination address from the wallet and were able to raise $ 500,000 in a fraudulent manner.