A startup that developed out of efforts at the Massachusetts Institute of Technology, with a specific goal to build a more private platform for decentralized applications, wants to increase their privacy by incorporating Intel’s Software Guard Extensions (SGX).
A spokesperson from Enigma stated that:
“Privacy is currently the biggest barrier to smart contract adoption. Blockchains are good at correctness, but bad at privacy by design. Smart contracts and decentralized applications will need to be able to use private and sensitive data to see global adoption.”
Later on, a proof-of-concept that showcases the potential of linking the two technologies will be launched. Enigma is going to work with Intel, as well as other industry partners, for the reason of improving applications that support the protocol and SGX.
According to a Medium post, Guy Zyskind, the CEO of Enigma, emphasized the necessity for secret contracts given the issues influencing other forms of privacy tech. Problems involved are the issues with zero-knowledge proofs and coin-mixing, the latter of those he mentioned are especially vulnerable in multi-party cases where numerous untrusted and pseudonymous parties are executing computations.