Enigma, a decentralized open source protocol that allows anyone to perform calculations on encrypted data, today announced two important events related to the development of the Enigma network. The Enigma team reached an agreement with the Securities and Exchange Commission (SEC) of the United States, and the first main Enigma network was successfully launched on February 13, 2020.
First, Enigma MPC reached an agreement with the Securities and Exchange Commission (SEC) of the United States regarding the issuance of ENG tokens in September 2017. This regulation opens the way for the Enigma development team to fully focus on its original and continuous vision: the protection of the privacy of solutions that improve the adoption and user-friendliness of decentralized technologies, for the benefit of all.
“We will continue to release more details on this agreement in the coming days so that the Enigma community can better understand the next steps.” We are delighted to have the opportunity to put this process in the rear view mirror and to return to our development work with all our attention and energy. “
– The Enigma team
Second, after a long period of successful testing on test networks, the first main Enigma network has been successfully launched, supported and operated by more than 20 independent validators from the Enigma ecosystem and community.
The main network is a blockchain based on proof of participation based on Cosmos SDK / Tendermint. It is secured by a new native coin, Secret (SCRT), which is used for staking and transaction costs within the network. This new chain serves as a consensus layer for the Enigma network, replacing Ethereum.
Successful testnet validators now work like the initial validators for the main Enigma network. More than 20 participating validators representing more than 10 time zones have agreed on the genesis block of the Enigma blockchain, which was signed on Thursday, February 13.
With this launch, a number of critical changes to the Enigma protocol have been proposed and approved by early adopters, including chain governance, delegation, inflation and reduction. These changes aim to further decentralize the governance and control of the Enigma protocol.
The main Enigma network is now entirely in the hands of the validators who operate it, and future protocol changes must be submitted as proposals (either by the Enigma central development team or other participants from the ecosystem) and voted for inclusion by the validators in the Enigma network. The Enigma central team affirms that its influence on the network will be limited to the proposals it draws up and the minimum voting power conferred on it by its participation in the network.
“Although the responsibility for monitoring the network and its future now rests with the entire Enigma community, our development team is more committed than ever to our work and this way forward for the Enigma protocol. Our core team will continue to work tirelessly alongside the Enigma community to improve security, stability and community governance of the protocol. The development team and the Enigma community will also continue to support the Enigma Discovery developer test network, where developers can create their own “secret contracts” that maintain confidentiality. As we work to integrate secret contracts into this new Enigma blockchain, our goal is to ensure that the developer’s experience remains as consistent as possible. Although the full secret contract functionality is not available at the launch of the main network, the main Enigma team continues to develop this functionality and its integration into the main Enigma network, which would be voted by the community for inclusion in a hard fork at a later date. “
– The Enigma team
Details of the main network of Enigma