Enigma is a distributed computing platform with privacy guarantees. Through Secure Multi-Party Computation (SMPC) technology, different parties can run computations on distributed data and obtain correct results without accessing the raw data itself. Enigma separates data access from computation, making data sharing no longer an irreversible process, enabling personal control over individual data, and laying the groundwork for data monetization.

1. The Enigma Protocol

The Enigma protocol is Enigmas computational model, based on a highly optimized version of multi-party computation, ensuring security through a verifiable secret sharing scheme. To maintain data secrecy, Enigma employs an enhanced Distributed Hash Table (DHT) to store data.

2. Features of the Enigma Protocol

1. Privacy
By utilizing SMPC, data requests are computed in a distributed manner. Data is randomly dispersed across multiple nodes, which collectively undertake the computational load, eliminating concerns about data leakage to other nodes. It is crucial to note that no single node has access to the entire dataset; they only hold a portion of it.
2. Scalability
Unlike blockchain, where each node stores complete data, only a subset of nodes compute parts of the data in Enigma. This separation of storage and computation inherently provides scalability.
Traditional data sharing methods are irreversible; once data is shared, it cannot be reclaimed or controlled. However, Enigma allows for rollback and control of data because, apart from the data owner, no one can see the original data. This brings fundamental changes to the current field of data analysis, upending data encryption transactions.
3. Private Contracts
In Enigmas design model, code execution is divided into two parts. The public part runs on the blockchain, while private data is processed off-chain. To support decentralized application development, the Enigma team designed a script language akin to smart contracts: private contracts. They are Turing-complete and can handle private data.
4. Catalyst Application
Catalyst is the first application of the Enigma protocol, driven by financial data markets. Catalyst enables users to share and manage data, as well as develop beneficial investment strategies driven by data. It allows developers to build, test, and trade cryptographic assets. Through Catalyst, developers gain access to Enigmas decentralized data marketplace to consume valuable encrypted data for investment strategy analysis.
5. Decentralized Data Marketplace
Enigma establishes an open, secure decentralized marketplace allowing individuals, companies, and organizations to share and consume data. Tokens are used for managing data subscriptions, rewards, and penalties on-chain, while the storage and transmission of the data itself occur off-chain.

Related Links:

https://enigma.co/ecosystem/