/biz/ - Business & Finance

Enigma is a privacy protocol - a blockchain-agnostic, second-layer network for private computations that protects sensitive data.

Blockchains are a revolutionary technology, but they are being held back by fundamental limitations:

Privacy - Data on the blockchain is accessible by anyone, making storing sensitive data impossible. This restricts the number of applications for blockchains.

Scalability - Computing on the blockchain is too slow and expensive. Storing and computing over very large amounts of data on the blockchain is not feasible.

Enigma's protocol fixes these issues and unlocks the value of blockchains by enabling truly decentralized applications. The promise of Enigma lies in its unique technology that protects privacy of data while still allowing for computation over that data.

The Enigma protocol is a second-layer network that can work with any blockchain. Nodes in the Enigma network do not see the data they compute over, yet they can publicly prove that they have run a computation correctly. This opens the door for a new type of smart contracts – “secret contracts,” where the underlying data processed in the contract remains encrypted at all times.

Fundamental protocols like Enigma are essential to solving the limitations of blockchains and creating a truly decentralized future. With Enigma, we can unlock billions in value across multiple industries including data, credit, finance, healthcare, AI, IoT, and more.