What Is Enigma?
Enigma (ENG) is a cryptocurrency that builds and supports groundbreaking privacy-focused technologies and networks. ENG is a contributor to the unique blockchain-based network where estimations can be performed on encrypted data. Enigma lets us improve the adoption and usability of privacy-first products.
Enigma can be used in different fields of human activity. Through Enigma's Secret Network technology Ethereum smart contracts turn into Secret Contracts. This platform allows running other decentralized apps that provide confidential transactions. The holders of ENG are crypto traders, network curators, and investors who want to invest in promising exchange strategies.
Pros and Cons of Enigma
Like any currency, Enigma has pros and cons considered below:
Advantages of Enigma crypto
- Data Privacy. ENG solves the problem of privacy. Enigma's solutions are part of the foundation for a more secure, more sustainable Iinternet.
- Secret Network. It is a blockchain-based protocol that allows dApps to utilize encrypted data without revealing it. This technology allows building new types of applications - Secret Apps.
- Usability. Enigma’s solutions can be valuable for many industries and activities like data sharing, healthcare, gaming, machine learning, etc.
- Scalability. It means that the data storage is not replicated by every node in blockchain. Reducing redundancy in storage enables more complex computations.
Disadvantages of Enigma crypto
- Enigma uses the Turing programming language, which reveals a part of random information to the block, and therefore neither party has access to the complete data. Thus, unlike the Bitcoin network, Enigma is truly decentralized.