Tech giant Intel has stunned the whole world by announcing partnership with decentralized application platform Enigma Project. The main objective of this partnership is to research and develop advance privacy while keeping the computation technologies at the top. Here, it is pertinent to mention that Enigma is the company that had completed $45 million Initial Coin Offerings (ICO) in September 2017. Most of the crypto experts are of the view that this partnership would increase the credibility of Enigma which is the 82nd largest cryptocurrency being traded across the world. Both the companies have confirmed the partnership at Cyber Week 2018 in Tel Aviv.
Enigma aims to create secret contracts by using Intel’s Software Guard Extension (SGX). There are reports that Enigma is creating private smart contracts for Ethereum blockchain through using SGX. SGX is a software guard that protects data and codes by using enclaves. The use of Intel’s SGX and Enigma’s blockchain will help the partners to develop new decentralized apps with increased security, scalability, and privacy. This means that the partnership will prove a lot beneficial for masses in the shape of private smart contracts.
Rick Echevarria, a spokesperson from Intel says in a blog that the company is committed to revolutionize the businesses through use of blockchain technology. He further says that all this will be achieved while increasing privacy, security, and scalability. Enigma also seems excited at this partnership because it will enable the company to advance its protocol and privacy technologies. This advanced protocol and privacy technologies will infuse a new life to public blockchains. We can hope further collaborations of Enigma with other tech giants.
Enigma plans to launch test run of its advanced protocol by the second half of 2018. The decentralized platform Enigma is working day and night to bring such exciting news for its community. Here, it is important to mention that use of blockchain technology is revolutionizing the businesses all across the world. Global remittances are completing within seconds with the help of various blockchain technology products.
There are a lot of blockchain applications playing pivotal role in almost all the businesses. But, all these applications are based on decentralized public ledger. Thus, the privacy of monetary transactions seems impossible. Enigma aims to overcome this issue by developing an advanced privacy protocol while keeping the computation at the top. This protocol will be developed by using Intel’s SGX tool to protect transactional data from hackers.
Enigma wants the blockchain technology to work at the early stages of tech businesses. We can hope that this partnership may change the trends that various businesses are following. Here, it is pertinent to mention that various cryptocurrency platforms are developing various decentralized applications to ease the customers. Ripple is also one of those platforms that have revolutionized the businesses by increasing the speed, reliability, and scalability of global remittances. Global remittances are completing in just 3 seconds in Ripple’s blockchain technology.
This partnership between Enigma and Intel will increase the scalability, privacy, and security of data being utilized by various businesses activities. It will provide a suitable platform to the businesses for developing end to end decentralized applications.
This is a guest post. Opinions in the article are solely of the writer and do not reflect AdFunnel Project’s view.