Enigma price is $0.01556870
As of now, Enigma (ENG) is priced at $ 0.01556870. In the last 24 hours, it has decreased -10.97%%. Please keep track of this benchmark, as the price of Enigma often fluctuates.
Enigma is a unique cryptocurrency platform aiming to address the issue of privacy on the blockchain. It extends the capabilities of Ethereum Smart Contracts with a unique feature called "secret contracts." These array of smart contracts add a layer of privacy which isn't inherent to most blockchain platforms. Additionally, Enigma's secret contracts operate off-chain, meaning their execution doesn't occur on the Ethereum blockchain. Enigma achieves this by splitting the Smart Contract and its related data into numerous pieces, encrypting those parts, and distributing them redundantly among Enigma nodes.
Enigma was founded by a team of MIT graduates. Guy Zyskind, the CEO and cofounder, kick-started the Enigma project while he was still studying at MIT. Zyskind, with over a decade of software development experience and an M.S. degree from MIT, is one of the leading figures of the Enigma team. He also benefited from the guidance of advisors like Alex Pentland, who serves on advisory boards for Google and Nissan, and Sandy Pentland, a renowned MIT data scientist. Other notable advisors involve Bill Barhydt, the CEO of Abra, and Prof. Alex Pentland, director of the MIT media lab.
Enigma operates on multiple layers: the protocol level, the platform layer, and the application layer. The key component, the Enigma privacy protocol, supports decentralized computation of sensitive data. This adds an extra layer of security and privacy not found on a typical blockchain. This protocol enables the construction of many platforms such as data marketplaces and AI exchanges. The application layer enhances the performance of thousands of truly decentralized applications, particularly those that require private computation and secure data management.
Enigma is unique because of its three-tier architecture that incorporates the protocol, platform, and application layers. This structure is crucial to Enigma's ability to provide a level of privacy that isn't common to existing blockchain platforms. Thanks to the Enigma privacy protocol, data-driven crypto-asset investing and research platforms, like the first application built on the Enigma protocol called Catalyst, already have active user bases of tens of thousands of people.
The current circulating supply of Enigma (ENG) is at 82.7M, while the total supply of ENG is at 150.0M. It's important to note that these values can vary and should be checked regularly for the most accurate picture of Enigma's distribution.
Enigma’s approach to security is centered on secret contracts. This brand of smart contract aims to add a layer of privacy by operating off-chain. Its execution does not occur on the Ethereum blockchain itself. Instead, the contracts and related data are broken up, encrypted, and redundantly distributed among Enigma nodes. This complex approach increases the difficulty for potential bad actors to compromise the integrity of the Enigma network.
You can purchase Enigma (ENG) on the current exchanges: CREX24, Dove Wallet. Please remember that crypto investments come with their risks, and you should only invest what you can afford to lose. Always utilize secure wallets to store your assets and prioritize your online security at all times.
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