Enigma, a decentralized protocol designed to create secret smart contracts, has launched its network (test network) on Ethereum. Thus, now anyone can start working with the Enigma token network.
Smart contracts are pieces of code running on the blockchain that, when their conditions are met, lead to a cryptocurrency transaction.
But what if someone wants to keep the terms of the deal a secret? Secret smart contracts come to the rescue, the details of which are kept secret and at the same time lead to the execution of the transaction.
According to the company, the test project provides everyone with the opportunity to generate their “secret nodes” for the first iteration of their secure calculation protocol. These nodes allow you to create secret contracts. They are built using the Rust coding language.
Node operators receive remuneration in ENG and are required to put ENG tokens for nodes in the company network.
According to Enigma, the launch of the Discovery network test network means that node operators “can for the first time begin to set their own tokens of the ENG test network and connect their computers to the Enigma test network.”
Guy Ziskind, co-founder and CEO of Enigma, said: “The launch of the Enigma test network is an important milestone for our technical team, our community and the entire decentralized Internet. Our team, community, and ecosystem of employees can now look forward to launching the Genesis Game and launching the first Enigma network in 2020. “
This news came after the release of Enigma’s first test network, which allows technologists to create “secret contracts” to run on the Enigma network.
About Enigma: Enigma, formed from the graduate team of the Massachusetts Institute of Technology in 2015, is developing products and systems that help accelerate the implementation of decentralized technologies.
The introduction of new technologies means that smart contracts can safely use personal and confidential data as input, which, according to Enigma, can help unlock applications in industries such as DeFi, lending, machine learning, IoT and healthcare.
The Enigma network runs on hardware-based privacy technology called Trusted Execution Environmentments (TEEs), so that code runs safely on processors.