Enigma Startup Announces Initial Testnet Launch

Privacy tech company Enigma has recently announced that a brand-new blockchain has officially entered testing. The announcement describes the latest move for the tech giant, that of creating its own hardware-technology.

Created entirely at the MIT Media Lab, the project is based on a whitepaper published in 2015. Even though the project has been originally aimed at the hedge fund sector, it seems that the company had a switch of personality as it now describes it as a protocol for “secret contracts.”

The technology in question is represented by a set of tweaked smart contracts designed to hide the origin of a transaction. This will allow the blockchain to perform and calculate agreements without actually decoding them.

Future plans for Enigma

In regards to the soon-to-come real-world test, the developers behind the project were quick to temper potentially high expectations by stressing out the true nature of this project is as follows:

“We acknowledge that development of these types of innovative technologies is non-linear and an ongoing, iterative process. We’re not simply forking an existing platform – we’re building something completely new and essential, something that will take (and has taken) many people and many days and nights to build.”

Following the Testnet launch, according to its roadmap, Enigma now aims to get ready for the Mainnet launch within the following three months. A short while ago, Enigma declared that it has partnered with technology giant Intel to expand the development of the platform.

With this latest development, Enigma is, as stated on its official announcement, “one step closer towards a truly decentralized future.”