"A peer-to-peer network, enabling different parties to jointly store and run computations on data while keeping the data completely private. Enigma’s computational model is based on a highly optimized version of secure multi-party computation, guaranteed by a verifiable secret-sharing scheme. For storage, we use a modified distributed hashtagable for holding secret-shared data. An external blockchain is utilized as the controller of the network, manages access control, identities and serves as a tamper-proof log of events. Security deposits and fees incentivize operation, correctness and fairness of the system. Similar to Bitcoin, Enigma removes the need for a trusted third party, enabling autonomous control of personal data.For the first time, users are able to share their data with cryptographic guarantees regarding their privacy."
What we don't like:
Enigma is stepping into many saturated blockchain markets. The storage market, the predictions market and the decentralized exchange market are some of if not the most common crypto start ups at the moment. Enigma stated many times that their main focus is on the storage marketplace token, which does not have a clear frontrunner in the market. They could succeed but they have heavy competition.
What we like:
Enigma’s main platform is a storage marketplace. The Enigma storage platform uses off chain storage, with the Enigma token facilitating those selling storage and those purchasing it. They have a highly educated team, with most members coming from MIT. Enigma says their platform can also be used as a predictions market or decentralized exchange protocol.