Here is why I think so.
1.
Enigma is an off-chain peer-to-peer network that enables different parties to jointly store and run computations on data while keeping data completely private through the use of secret contracts.
This second-layer network provides privacy and increased scalability, the Enigma protocol is Blockchain agnostic meaning it can work with and be complementary to other Blockchain Projects(ETH,Monero etc).
blog.enigma.co
Other urls found in this thread:
medium.com
en.wikipedia.org
youtube.com
youtube.com
youtu.be
youtube.com
cryptovest.com
twitter.com
2.
The team is also developing dApps to be built on the Enigma Protocol(data marketplace), the first of which 'Catalyst' is a data driven Crypto-investment trading platform intending to be the Bloomberg/Reuters of Crypto.
medium.com
3.
The team is stacked with MIT Grads and is part of the STEX25 start up group, their Principal Advisor is Prof.Alex Pentland who is one of the most cited authors in computer science.
en.wikipedia.org
youtube.com
Why does ENG need a Native token?
youtube.com
>principal advisor
>they occasionally stop by his office and ask what flavor beans he likes in his coffee
I worked with a girl from MIT she was the biggest sjw I've ever met and everyone hated her. Not sure if she was actually smart because everything she said was actually dumb. To this day I still believe the only way she got that job was because she put "MIT" on her resume. There is a lesson to be learned here men.
See, most of what you posted is right. It's an excellent project.
But I just love how you didn't explain with ENG needs a Native token and instead posted a half hour long video that you assume most people won't watch because (maybe) you watched it and weren't satisfied with the answer.
The truth is Engima doesn't need a Native token. It could run off Ethereum. It probably will in theory given that it's virtual an ERC20 token. It depends on how the ENG token will be accessible to the data consumers - right now the easiest way to access it is just by buying Eth and transfering. No reason to see that being the same down the road.
Here's the section of that video where he actually discusses why ENG needs a native token. Is it compelling? I don't think so, but I'll let others make their own decisions:
"Where tokens come into play is really in the networks effects and having, aligning incentives for data consumers and data curators. Without picking something like bitcoin or Ethereum it makes sense for us to have a native token for the platform... We're intending ENG to be the native token for any application that is built on the protocol level."
Later, after someone giving him a way to discuss it more plainly:
"Speaking generally... There's plenty of projects coming out right now that don't need a token."
Because ENG isn't actually linked to any sort of basis, it's just as variable in terms of value as either ethereum or bitcoin. It's a very interesting project, but it really doesn't need a token.
I didn't know about this. Fucking hell, now I understand why it never drops.
I think I replied to you in the other thread
Because the Enigma Protocol intends to be blockchain agnostic I believe it would make sense for a standardized token rather than just adopting the token of the platform like ETH, also for compatibility of applications built on the protocol.
I don't work for enigma so i don't know, something to bring up at the next reddit AMA perhaps!
Well you're just shilling this in multiple threads. I get it. It's a cool project and you got excited and picked up a bunch of bags. But ENG is an ERC20 token. The Enigma protocol maybe is agnostic, but the token itself is on the Ethereum blockchain. There's a clear difference between the benefit of the protocol (ie, code itself, which certainly should be able to collect data about any kind of blockchain) and the token.
But will a bunch of people jump on just because its a good project? Probably. Not saying its a bad coin to hold stacks in (because other people will see the potential of the project and jump on without really examining the coin itself), but it's a little silly to say that there's a definite reason for it to have a native coin. You basically said it has a native coin so that it can have a native coin.
They can always switch it 1:1 for their own blockchain like DNA is planning to.
>Well you're just shilling this in multiple threads
Yes, because i believe in the project
Why are you so hung up on it being ERC-20
Omisego is ERC-20 also like many others
>picked up a bunch of bags
I'm in from the ICO, there are no bags here!
People will decide for themselves whether they believe it's a worthwile project or not.
Really doesn't need you in every Enigma thread screaming erc-20!
It's going for tripple digits for sure. People are researching it right now and they can actually see some legit project amongst shitcoins and PnD coins
THIS
H
I
S
Absolutely, I have heard this before but cannot find it anymore.
I will ask in the discord and hopefully get an answer from the team!
What does this mean? As in exchanging one ETH for one ENG?
Interview with the co-founder saying something big is coming soon!
1 (erc-20) ENG for 1 (Native) ENG.
If that makes sense
That's a good vid, this team is stacked!
Stacked team, lot of FUDers saying they have no product, but they clearly haven't looked at Enignma's github. The Catalyst platform is advancing quickly
youtube.com
Catalyst will be the Bloomberg for Crypto, and its not even the main product of Enigma
People are waking up to ENG
>2 year out prediction in cryptoland
Fuck off
This is a LT hold for me so that works for me!
>off-chain peer-to-peer network
stopped reading there
the fuck where is he buying at $2?
Very much your loss...
Enigma functions by creating an off-chain storage for private data, which is attached as a second layer to an existing blockchain. Parties can store and run computations on the data without being able to view the content unless the existing blockchain grants access.
Using a Turing-complete scripting language, each node is given a stand-alone piece of seemingly random information so that no single party has access to the complete data; this allows privacy to remain totally decentralized.
By implementing this function via smart contracts, Enigma enables users to send encrypted content using smart contracts, without comprising their computation, and preventing any single party from viewing the content.
