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Enigma is a second-layer, off-chain network protocol that aims to address problems with scalability and privacy which exists in blockchains. Enigma was founded on August 12, 2015 by Can Kisagun and Guy Zyskind, and is headquartered in San Francisco, California.
Enigma features decentralized applications that do away with vulnerability issues existing in centralized applications, secret contracts that protects data privacy, and a decentralized, open and secure data marketplace. It has a decentralized off-chain distributed hash table (DHT) capable of storing references to data but not the data itself. Data references stored on the Enigma DHT are accessible through blockchain, and when accessed gives users the ability to access stored data on the blockchain.
On September 2, 2016 Enigma received a convertible note worth $800 thousand from Plug and Play Insurtech, Flybridge Capital Partners, and Converge Venture Partners.
On September 11, 2017 Enigma completed their initial coin offering (ICO) selling approximately $45 million worth of their platforms Enigma (ENG) cryptocurrency.
