This blockchain is expected to enable private contracts between users.
Announced Saturday, the news marks the latest step in a journey for startup Engima to launch its own technology – developed at the MIT Media Lab, the project is based on a white paper published in 2015. Initially aimed at the hedge fund sector, Enigma now brands itself as a protocol for “secret contracts,” which it demonstrated last month at CoinDesk’s Consensus 2018 event.
As such, the announcement means that the technology, a form of modified smart contracts designed to obfuscate the origin of a transaction, as well as allow a blockchain to compute contracts without decrypting them, is now closer to real-world use.
However, in remarks, project leaders were quick to caution expectations.
Stressing the novel nature of the technology, they wrote:
“We acknowledge that development of these types of innovative technologies is non-linear and an ongoing, iterative process. We’re not simply forking an existing platform – we’re building something completely new and essential, something that will take (and has taken) many people and many days and nights to build.”