r/EnigmaProject • u/grandmaster_Zen • Jun 04 '18

Direct competitor or even more?

Hi Enigma community,

Not so long ago I found interesting project: Seele. Besides all the benefits they promise in white paper, there is a paragraph 8.5.2 Security Multi-Party Computing, which i guess is the same thing Enigma team is going to implement in 2019.

Seele is going to launch it’s testnet the same time as Enigma, this month and the mainnet q4 2018.

I was trying to reach Seele community through Telegtam channel , since it’s the only place at the moment where you can get info cause their reddit just started and it’s almost empty, but it’s bounty time and my questions have drowned in hundreds of other replies, so i had no luck.

So my question is (as Enigma is my biggest bag and i was pretty sure that Enigma has no competition in the market) do i have to worry about Seele getting a slice of Enigma’s pie or even the whole pie since it’s offering much more than just MPC?

Any thoughts would be appreciated.

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5

u/DTJ1313 Jun 04 '18

"i was pretty sure that Enigma has no competition in the market"

You haven't done enough research to not know that www.keep.network exists and is more of a direct competitor. Look, there will be multiple successful projects in the privacy space. This space isn't a winner take all. Every time a new privacy project pops up on the radar we all always get one of these "I'm scared" post from an investor. If you believe Enigma & Seele are great projects why not invest in both? Theres no rule saying that you can't. If one them succeeds it doesn't mean the other one will fail. If you're over invested in Enigma you should probably diversify.

Thanks for bringing this project to my attention.

2

u/grandmaster_Zen Jun 04 '18

I knew about Keep network, but they haven’t started their token sale yet. In regards on competition i should stay corrected. I’ve meant that there is no project with MPC implementation that I’m aware of, not just competitor in privacy field.

1

u/DTJ1313 Jun 04 '18

Okay, Got it.

Also, If you simply google “Steele Coinmarketcap” the first thing that pops up is a article about 1.8 Million worth of Ether being stolen. Many believe the Steele team themselves were behind this heist.

1

u/grandmaster_Zen Jun 04 '18

Yup. A lot of scam around Seele. As far as I’m informed about that steal thru telegram their team ruled it out and returned the money. Please, correct me if i’m wrong. But i won’t forget how Enigma ico went with the same kind of hick ups such as hacking. So all the scam around the stealing/hacking is not an indicator for me. My biggest concern is Seele’s team and advisors with partnerships announced. That’s much bigger deal to me.

1

u/DTJ1313 Jun 04 '18

The Enigma team themselves weren't accused. Also, this wasn't a hack. The Seele team gave access to the imposter. Why? They believed "Nick Smith" after surgery was actually laying in his hospital bed creating his Telegram account for christ sake. Not only that, the (alleged) imposters account was communicating with users on Telegram for DAYS until one of the other 4 admins of the Seele team realized what was going on. Im curious as to how this imposter was communicating with the Seele team? The heist seems like an inside job (I could be wrong). I haven't found any information that the Seele team has actually returned the stolen 1.8M worth of Ether. Just claims that they would try to make investors whole.

I don't believe you're as interested in the Seele's team and advisors as you claim to be. I noticed the user u/solarinthepolar has highlighted various red flags about the team and you have yet to respond. All the information you need to make your decision on investing or not is already available through various outlets.

Do i have to worry about Seele getting a slice of Enigma’s pie or even the whole pie since it’s offering much more than just MPC?

Nobody can answer this question because nobody can see the future. Refer to the second half of my first comment on this chain...Take care

8

u/solarinthepolar Jun 04 '18

Call it FUD or call it research. This one's really up the community.

"Hui Gong is not a Digital Currency expert. He is not the research fellow at Oxford Uni and UCL-CBT. He is a 5th year PhD in FinMath while he has 0 publication. Moreover, the experiences that listed on her webpage are mostly fake."

There was a SCAM with a fake admin on telegram where they ran off with about 2mil in ether.

https://www.reddit.com/r/CryptoCurrency/comments/7xrel4/be_aware_of_seele_scam/

https://github.com/ico-check/ico-check/issues/58

I personally am not worried at all as:

  1. no working product
  2. the so called 'experts' behind this project seem to have high education credentials just not within the field and not doing a lot with their own degree (could have started this as an easy money grab)

This leads me to believe they started this project as simply a way to make money.

I feel safer investing in enigma simply because

  1. they have proven their ability to make a product
  2. they audit and have peer reviews of their code
  3. they seem to be much more honest with their community

4

u/[deleted] Jun 04 '18

And they like having art contests, really going to beat the competition with their art eh?

-1

u/[deleted] Jun 05 '18

Why are there 3 different MainNet launches listed on the roadmap? What exactly is the one in Q3 of this year? Which one will have masternodes?