Hello from the Enigma team! With our ENG token distribution taking place tomorrow, October 11, we are taking a moment to reflect on Enigma and Catalyst — both where we are currently and where we are going.
As you’ll read below, we have already accomplished a great deal and in some cases (as with Catalyst development) exceeded our own expectations. However, we know that we stand at the beginning of a long journey alongside our users, partners, and contributors, and we’re excited to share a bit more about our vision with you. This post will be our most thorough explanation yet of the importance and scale of the Enigma protocol, our protocol roadmap, the long-term functionality of the ENG token, and our vision for Catalyst on Enigma.
Enigma’s primary aim is to revolutionize the way data is shared, aggregated and monetized through the Enigma decentralized data marketplace protocol and the utility token for the Enigma protocol, ENG. While blockchains are a form of a decentralized database, their biggest flaws are scalability and privacy. Enigma seeks to enable the scalability of blockchains by providing a complementary off-chain data network, where larger quantities of information can be securely shared and processed without incurring severe on-chain costs. As the decentralized web continues to scale, our protocol will provide a necessary second-layer network that can handle more data, faster, and with better privacy features. We believe this is the missing piece necessary for mass adoption of decentralized applications.
As we shall explain, this is an ambitious vision that rivals the scale of large projects like Ethereum and Filecoin while complementing their functionality. In addition to our data protocol, we are building products (such as Catalyst) that will democratize the tools for interacting with and consuming data. As you’ll read below, on our data marketplace and in all products built on the protocol, the ENG token is the key to th...