With the privacy coin market seemingly getting overcrowded, Enigma (ENG) seems to be gaining more attention after smarting from the August 2017 hacking. The projects seems to be headed to better days as it concentrates on building strategic partnerships that will lead to development of privacy solutions to fill the ever growing demand gap in the sector.
The recent Enigma Intel partnership is set to usher in a new era in privacy centric projects that the two outfits are set to work on. With new privacy challenges creeping in especially in blockchains, the venture will be able to address among other things, implementation of privacy smart contracts and address the problem of scalability and security.
Enigma Partnership with Intel
The Enigma Intel collaboration is set to set the stage for large scale dApp creation on the platform. This will pave way for more developer adoption. While making the announcement, the Intel Vice president, Software and Services Group and General Manager, Platforms Security Division, Rick Echevarria said:
“Intel is committed to enabling business transformation by shortening the time-to-value from blockchain implementations and working with the industry to address privacy, security and scalability challenges. Enigma’s protocol approach is helping solve the challenges on public blockchain network and improving data privacy and smart contract security.”
Enigma is set to benefit from the Intel collaboration in several ways; it will give the token additional mileage in the market by making it more visible and increasing investor confidence. Intel reputation is not questionable and using its products including the Software Guard Extensions (SGX) creation of contracts that are privacy centered becomes a reality.
Why Enigma Choice for SGX is Right
For starters, Enigma is a privacy platform and use of Intel SGX technology is to protect user data. This will also meet is vision of enabling dApps function at scale, the CEO and Co-founder at Enigma, Guy Zyskind adds:
“Enigma’s vision is making decentralized technologies work at scale, and in these critical early stages of the industry it is important to work with the best partners and technology.”
On his part, Echeverria adds:
“Intel chip tech can improve privacy and throughput to blockchain Apps. Intel sees value in adding protection to the blockchain and an ideal venture for enterprise solutions.”
With dApps becoming the in-thing, smart contracts have been seen as less superior to “secret contracts” which Enigma is set to deploy. The current problem is that when you transact anyone within the blockchain can be able to view the details using explorer. This for sensitive data like medical records and ban transactions might not be ethical hence the use of secret contracts.
Intel boost for Enigma (ENG)
Although it is still early to celebrate, the partnership holds a lot of future potential for ENG in the market. The previously diminishing investor confidence is getting back and it is just a matter of time before the value of the token skyrockets.
The partnership saw the ENG price get a boost of 20% to trade at the $172 zone and the volumes jumping to over $14million. The BTC/ENG pair on Binance took the lead and the over spike surprised many as it grew by over 70% across the market.
At the time of compiling this report, ENG price was down against the dollar by 3.73% to trade at $1.37 but gaining against Bitcoin and Ethereum by 0.18% and 2.58% respectively. This drop can be associated with the drops being experienced across the market and a slight breakout will take ENG price to the moon.
It is no doubt that the partnership is taking Enigma (ENG) to the next level and it is a token to watch in the privacy token and coin circles. Integration of smart contracts to the Intel systems on the other hand will endear the tech outfit to more investors to make the partnership a win-win situation.