Enigma (ENG) Latest Coin to Join Enterprise Ethereum Alliance & Decentralized Identity Foundation
Privacy-focused cryptocurrency & blockchain-based scalability protocol Enigma (ENG) has been accepted as a member to both the Enterprise Ethereum Alliance (EEA) and the Decentralized Identity Foundation (DIF).
The partnerships were announced today on the Enigma blog and come just three weeks after the launch of the Enigma Data Marketplace, a platform that acts as a matchmaker between data providers and curators with appropriate data consumers. It has an absolute focus on privacy and security, geared particularly towards merging crypto-financial datasets.
The Enigma Data Marketplace was the first major milestone of their roadmap and hosted five launch partners: Kaiko (trade and order book data), InfoTrie (social sentiment data), NapoleonX (Bitcoin trend following signal data), WhaleSupplies (Twitter follower and token holder data) and CryptoDataSets ( Google Trend and historical price data).
Enigma aims to improve decentralization for blockchains by transforming smart contracts (such as Ethereum’s) into “secret contracts”, a technique that keeps input data hidden from code-executing nodes on Enigma’s network. Such features would reduce liability on sensitive data for those using the network and unlock many possibilities for development otherwise held back by privacy concerns. Such a platform would also allow for the merging of datasets across industries, removing many barriers that currently block corporate collaborations among various sectors.
The Ethereum Enterprise Alliance hosts a large list of notable members, including J.P. Morgan, Santander, Intel, Accenture, Bancor, BP, CME Group & many, many more. Their goal is to “evolve Ethereum into an enterprise-grade technology,”.
Enigma’s first protocol, Catalyst, is scheduled for release alongside its mainnet in the third quarter of this year. It will be released in a format compatible with Ethereum, making its use-cases now completely relevant to every member of the EEA.
The Digital Identity Foundation is an organization that pushes for the right to complete ownership of one’s data and proof of identity. Such rights would allow for the ability to ‘control, selectively share and potentially monetize his or her financial, browsing, health or geospatial data’. For example, one could prove their age is over 21 without revealing exact details of their date of birth.
The price of ENG has risen by almost 20% following this announcement.
Image From Shutterstock