• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Fed Lowers Rates By 25bps: How Bitcoin And Crypto Prices Responded And What's Next
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Fed Lowers Rates By 25bps: How Bitcoin And Crypto Prices Responded And What's Next

MIT’s Enigma: Decentralized Cloud Platform with Guaranteed Privacy

Deepak Tiwari
by Deepak Tiwari
10 years ago
·
Posted in Bitcoin, Bitcoin Security, Bitcoin Service, Bitcoin Technology, News, News teaser, Technology, Trending
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A pair of Bitcoin entrepreneurs and the MIT Media Lab has revealed a prototype for a system called Enigma, a decentralized cloud platform with guaranteed privacy. Enigma allows users to store, share, and analyze personal data without it being fully revealed to any party. Powered by the blockchain, Enigma aims to be a secure, multi-party computation.

Also read: Should we Raise the Bitcoin Block Size Limit?

The team at MIT has already developed a prototype for Enigma, which is based on a highly optimized version of secure multi-party computation, guaranteed by a verifiable secret-sharing scheme. MIT Media Labs’ whitepaper says:

“For storage, we use a modified distributed hashtable for holding secret-shared data. An external blockchain is utilized as the controller of the network, manages access control, identities and serves as a tamper-proof log of events. Security deposits and fees incentivize operation, correctness and fairness of the system. Similar to Bitcoin, Enigma removes the need for a trusted third party, enabling autonomous control of personal data. For the first time, users can share their data with cryptographic guarantees regarding their privacy.”

Enigma Team Members
Enigma Team Members

The main principle behind Enigma is developing a peer-to-peer network that enables different parties to jointly store and run computations on data without compromising the privacy. Encryption has been used for privacy purpose successfully; however, the problem with encrypting data is that sooner or later, the users have to decrypt it. While encrypting the data, users can keep their cloud files cryptographically scrambled using a secret key that only they possess to rule out any hacking. However, as soon as they want to actually do something with those files, anything from editing a word document or querying a database of financial data, they have to unlock the data and leave it vulnerable.

Thus, in ordinary data encryption, there is still a risk from hackers. However, MIT Media Labs believes it has solved this problem with its “homomorphic encryption,” a still-mostly-theoretical advancement in the science of keeping secrets. The MIT team plans to use this new form of encryption in Enigma

What is Homomorphic Encryption?

Before understanding Enigma, it is essential to understand what kind of encryption it will use. The team behind the development of the prototype says that it is using a homomorphic encryption scheme, a crypto system that allows computations to be performed on data without decrypting them. Thus, homomorphic encryption can be summed up as a method of performing calculations on encrypted information without decrypting it first. This method of encryption — if successfully implemented — could make cloud computing much more secure.

Decentralized Computation Platform

Enigma’s whitepaper from the team says that the product is a decentralized computation platform with guaranteed privacy. The team wants to enable developers to build “privacy by design,” end-to-end decentralized applications, without a trusted third party. The whitepaper elaborates:

“Enigma is private. Using secure multi-party computation (sMPC or MPC), data queries are computed in a distributed way, without a trusted third party. Data is split between different nodes, and they compute functions together without leaking information to other nodes. Specifically, no single party ever has access to data in its entirety; instead, every party has a meaningless (i.e., seemingly random) piece of it.”

star-clusters-67616_1280Although there are many possible uses for Enigma, the key utility it brings to the table is its ability to run computations on data without having access to the raw data itself. The whitepaper cites an example of how Enigma can be extremely useful in managing wages. “A group of people can provide access to their salary, and together compute the average wage of the group. Each participant learns their relative position in the group but learns nothing about other members’ salaries.”

Where Can Enigma be Used?

Enigma can theoretically be used for a myriad of purposes, including:

  • Data Marketplace
  • Secure Backend
  • Internal Compartmentalization
  • N-Factor Authentication
  • Authenticating and securely storing identities
  • Store, manage and use (the highly sensitive) data collected by IoT devices
  • Distributed Personal Data Stores
  • Crypto Bank
  • Blind E-Voting
  • Bitcoin Wallet

Do you think Enigma is a good idea? Let us know in the comments below!


Images: Enigma

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Deepak Tiwari

Deepak Tiwari

Follow

Deepak Tiwari, though a lawyer, working as a journalist for six+ years now. An avid Bitcoin supporter, he currently writes on Bitcoin and other crypto-currencies for Bitcoinist.net, a portal that offers exclusive news and reviews for readers, traders and brokers. His other specialties/interests include writing on law & governance, finance, internet marketing, careers, politics, international relations & diplomacy, etc. Follow Deepak Tiwari in Twitter

Full Profile

Related Posts

Bitwise

Bitwise Targets Wall Street With Stablecoin And Tokenization ETF Filing

9 hours ago
Bitcoin

China’s Biggest Bitcoin Treasury Firm Plans $500M Stock Sale To Buy More Crypto

1 day ago
Bitcoin

Bitcoin Allocations Set To Explode Among US Institutions, Wall Street Veteran Says

2 days ago
Bitcoin

Bitcoin – Not Big Tech – Is The Market’s Biggest Story, Michael Saylor Says

3 days ago
Bitcoin

‘Bitcoin Investors Need To Be Patient’ — BitMEX Co-Founder Calls For Calm In The Market

3 days ago
Bitcoin

Bitcoin Investors Are Back In The Market—Why A Momentum-Driven Rally May Be Near

4 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Zaddy Coin Launches Presale, Blending Meme Culture, DeFi, and Lifestyle Branding

    Zaddy Coin Launches Presale, Blending Meme Culture, DeFi...

    22 hours ago
  • Bitcoin Hyper

    Bitcoin Hyper събра 16 милиона долара...

    2 days ago
  • 無礦機挖礦:PepeNode迷因幣Game...

    2 days ago
  • Mining Revenue Doubles Year-On-Year Despite Increasing Difficulty: Start Crypto Mining Now with GBC Mining

    Mining Revenue Doubles Year-On-Year Despite Increasing...

    2 days ago
  • miner

    Behind the Ripple Price Surge: How Mint Miner Cloud Mining...

    7 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.