CryptoURANUS Economics: 09/11/18


Tuesday, September 11, 2018

The Enigma Code: Defined in Cryptocurrency

The Enigma Code is Here!
Announcing Enigma Testnet 1.0 Release!

OptEdit: by Crypto Uranus:

  • Enigma takes our biggest step forward to decentralized future.
  • The Testnet-Code has become available now!
  • The Enigma Engineers stated from the earliest days of the Enigma project of their goal has been to enable decentralized applications to scale with gains of wide adoption.
  • The Enigma Engineers believe their development of groundbreaking privacy technologies is the first major step towards building a platform that will support our vision of a more sustainable, decentralized future.
  • As Enigma is one of the most ambitious projects in our space and time; The Enigma Engineers are always working hard to identify new team members and new partners like Intel who can help us achieve this mission.
  • In a space that is often overcrowded with vision and undersaturated with substance, The Enigma Engineers have always been determined to build and deploy real solutions.
  • The Enigma Engineers is not simply propose them they have created this global life changing experience.
  • This project is important for The Enigma Engineers to always keep building and always keep to the promises of decentralization and absolute privacy.
  • That is why today we are very excited to announce the immediate launch of Enigma’s initial testnet.
  • This development has been a long time to arrive.
  • Ever since The Enigma team's CEO Guy Zyskind’s initial whitepapers were published back in 2015 the entire earth waited for this single global dream to be fullfilled.
  • Since then, The Enigma Engineers core principle of focus is that a truly decentralized future requires privacy .
  • This has been validated over and over again.
  • Guy’s original whitepaper, “Decentralizing Privacy”, is now one of the most highly cited papers in the global internet cryptocurrency space with nearly 250 citations.
  • The Enigma Team have never been more certain of the necessity of our project to the future of decentralization, and we’re glad to see more and more leaders and projects acknowledge the significance of privacy.
  • We acknowledge that development of these types of innovative technologies is non-linear and an ongoing, iterative process.
  • The Enigma Team is not simply forking an existing platform.
  • The Enigma Team is building something completely new and essential.
  • The Enigma Team is building something that will take (and has taken) many people and many days and nights to build.
  • As The Enigma Team move along their ambitious roadmap, they do anticipate meeting many challenges, some unforeseen.
  • Enigma is committed to transparency and openness at every phase, and they will work actively with their developer community to tackle these problems and create better solutions. Privacy solutions are essential to securing all of our economic futures  and that is why they are determined to succeed.

Enigma's Secret Contracts!
You are invited into their circle of trusted!

Please read on for more details about the testnet and how you can begin building secret contracts with Enigma. The Enigma Team also tell you how to join their rapidly growing developer community and get the support you need.

The initial testnet release:

    • The testnet initiative is a self-contained network which allows external developers to build their highest levels of covert secret contracts.
    • Their developer release provides a deployable Docker network that holds a simplified, containerized environment also making available multiple core components of the Enigma protocol.
    • Developers are able to deploy secret contracts, and verify that these contracts are executed as intended.
    • Secret contracts operate by being executed in a retrofitted EVM running inside a Trusted Execution Environment (TEE) based on Intel’s SGX technology.
    • Intel’s SGX technology supports out-of-the-box interoperability with Solidity, as well as the Ethereum network.

    Keep in mind, at this time you cannot:

      • The Intel’s SGX technology execute secret contracts outside of the Docker network.
      • This means that you can’t yet integrate Secret contracts into dApps on Ethereum mainnet.
      • Access the “world state” (i.e. account information, storage, or account’s code).

        Run A Node:

          • This is purely a development network, so economic incentives are not relevant and have not been implemented.
          • Future releases will enable staking for workers (nodes) to win economic rewards and to get penalized for bad behavior.
          • Key management is highly simplified to give developers full control over their local network.
          • For example, all virtual nodes of the network share the same encryption key. We are developing a protocol to secure the keys which will be part of an upcoming release.

            What comes next?

            1. In the next Enigma release! 
            2. The Enigma Team will have a couple of major changes!

            WASM implementation:
              • Enigma Virtual Machine (VM) will run computations on WASM in addition to EVM.
              • Enigma Virtual Machine (VM) will enable interoperability with other blockchains.
              • Enigma Virtual Machine (VM) will support other programming languages beyond Solidity.


                Contract-level Sharding: 

                The protocol will define shards of workers per smart contract, significantly adding to scalability.

                Changes to State Management: 

                  • State management is a central component of the Enigma network, and this has been simplified.
                  • Smart contract attributes are simply encrypted and stored on Ethereum.
                  • Enigma network executes computations statelessly, always reporting back to Ethereum.
                  • The state of smart contracts will be securely stored on the Enigma network. The state of smart contracts will report to Ethereum only when necessary.
                  • This will preserve, (The state of smart contracts), privacy while reducing electric/gas cost and improving scalability.
                  • Reporting to Ethereum will enable building even more types of dApps that require this level of privacy and security (e.g., Secret ICOs and Privacy Tokens).

                    How can a cryptocurrency trader get started?

                    You will need a host machine with Intel SGX enabled.
                      • Check here for hardware that supports this and also a script that will check if yours is compatible.
                      • Then, download the testnet code from our repo and follow along with our “getting started” documentation. With this release, you should be able to run our sample secret contract, as well as build your own.
                      • After setting up your environment and get started with building secret contracts, the best place to find support and assistance is the Enigma developer forum.
                      • In the Enigma developer forum you can find helpful posts and interact with other developers and members of the Enigma team who can help address common issues.
                      • You should also continue to use our documentation as a reference to avoid errata mistake within your special operations.
                      • If you see any errors in the documentation, have observations you believe are helpful to Enigma developer forum developers, please make a post in the developer forum.
                      • Remember, this is just the first release of many for Enigma as we add increased performance functionality Enigma developer forum.
                      • Updates of our software will be a daily search and resolve, adamantly.
                      • If you identify any protocol bugs or security issues, Please contact The Enigma Team by reporting your findings onto our Github, and all repositories are public.
                      • This is a thrilling day for us at The Enigma Team.
                      • The Enigma Team is releasing our testnet and Secret Contracts 1.0...
                      • This "testnet and Secret Contracts 1.0" is a step forward for our project serving all of you.
                      • This is The Enigma Team's goal is for secret contracts to become the new standard .
                      • This is The Enigma Team's goal is for decentralized applications to move from novelties to necessities.

                        Sincerely to protect and serve decentralization as developers.
                        The Enigma Team...