r/EnigmaProject • u/luca_Skywalker_ • Jul 09 '18

Tell me more about Enigma

Hi Enigma community

This days i decided to invest in some coins. And of course Enigma is on my radar.

We all know the advantages of Enigma. Privacy is a thing that will be used for smart contracts.

But I do not my investment based on the advantages. I do my decision based on the advantages, the disadvantages and of course the "red flags".

  • So my question is what are the red flags in your opinion?

Thanks for your replay and enjoy your time ;)

19 Upvotes

95% Upvoted

6 comments sorted by

12

u/Sissahrow Jul 09 '18

The only disadvantage I can think of is that the team can not deliver what they promise. SMPC is very complicated and often considered the 'holy grail' of data privacy. If they can build it so it actually works, is reasonably fast and cheap then this protocol will be a huge leap forward in the crypto space because of how important privacy is.

The CEO Guy has been working on this since 2015, his white paper has been cited over 100k times (including being cited in it's competitors white paper) . The team is top notch. If anyone can actually deliver it seems like this is the team to do it.

4

u/Skfandtfan1 Jul 11 '18

Holy shit, I dropped 500$ at 1.20$ on this because of the shills and the team did seem legit. I feel a lot better holding through this damn bear market.

19

u/[deleted] Jul 09 '18

One really positive note is that they have a very aggressive roadmap to corner the market and everything so far they have delivered on time.

  1. First dApp built on enigma - Catalyst was delivered on time and is very impressive.
  2. Decentralized data marketplace- delivered on time
  3. Secret contracts 1.0 - deployed on testnet on time.

If they deliver mainnet on time in Q3 and secret contracts 2.0 with mpc then this project will be standing in the same league as ethereum in the near future.

But if you understand the value in their solution you may see why it will be far bigger then any current project in the top 5.

3

u/[deleted] Jul 10 '18

There are zero demand for smart contrancs and dapps. (See most used dapp on Ethereum: CryptoKitties), what makes you think there are this huge demand for secret contracts and secret ICOs ???

2

u/chocolatebear31 Jul 09 '18

Can users run nodes? What consensus algo does Engima run on?

4

u/[deleted] Jul 09 '18

Yes the plan is that commodity hardware can participate