17 May Blockchain Startup Unveils “Secret Contracts” Privacy Protocol
Blockchain startup Enigma recently gave a public demonstration of its privacy-oriented blockchain protocol at CoinDesk’s Consensus 2018 conference last Tuesday.
Former MIT researcher, co-founder and CEO Guy Zyskind says that the technology, which he first introduced in 2015, is a rebuild of the foundational layer of Ethereum to address the privacy-related shortcomings.
The “secret contracts” protocol allows nodes to compute using encrypted fragments of the smart contracts without having to decrypt them, unlike other blockchains. It also uses a tactic called “coin mixing” which obscures the original source of ether used within the protocol.
It is said that the technology can be used in industries like healthcare and finance that frequently handle sensitive data.