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Enigma Updates On Smart Contracts and Mainnet; Price Stays Stagnant

· 22 Sep 2018 in Cryptocurrency News
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology. https://twitter.com/basil_kimathi

In a recent post by Enigma, the company has provided an anticipated roadmap update on the efforts, opportunities, and challenges facing the project. In the post, the team has announced the launch of its testnet protocol designed for Secret contracts. According to the post, the concept of Secret contracts is: “smart contracts with hidden inputs, to enable scalable, end-to-end decentralized applications,”

All Positive News Since The Last Roadmap

The last roadmap update was released by the project back in March. One of the goals highlighted was creating a protocol that allows for decentralized applications and solutions, solving privacy.

The testnet was released in June and was the project’s first testnet of the private computation protocol. The project, following the launch, has also collaborated with many partners to make the testnet a success. One significant partnership that is expected to bear great results is the one forged between Enigma and Intel.

The Enigma project has been in existence since 2015. The team says that what they are building is simply not a hard fork like other projects. This is why the testnet has taken this long to be released and why it will take even longer to release the mainnet.

“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.”

The project now says that, since its code release, the team has been overwhelmed by partnerships. According to the published post, the interested partners range from developers, to enterprise.

Due to the high interest, the project says it has been faced by a decision to either launch;

“An interim mainnet with limited functionality and adoption (as originally planned) to hit a self-assigned goal, or put off a mainnet release to ensure we can support the maximum number of partners, use cases, and network usage from the very first day of Enigma’s Discovery launch.”

The project says given the two options they have decided to put off the mainnet release and support the partners with the testnet. This will not only lead to mass adoption of both the testnet and the mainnet but will also guarantee enough tests before the mainnet is released.

This project is still a long way from launching and becoming full functional. But what the Enigma team is planning to build here is like no other project. This could revolutionize the industry and re-define decentralized applications.

ENG Prices

Despite the positive news on the technology and project front, ENG coin prices are still 50% of its point on July 12th. It has seen modest gains on ENG/USD this week, as the market has been buoyed by new ETH and XRP gains and added 10% on its market cap. However, the ENG/BTC ratio hasn’t gained as much as other altcoins, with volume staying normalized on daily charts. ENG will need more attention from these updates to see price gains and new investors.

 

Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology

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