The Enigma mainnet was rebranded the Secret Community after an on-chain proposal by the neighborhood unanimously handed on Might 17. The brand new web site, Twitter and weblog, amongst different digital belongings, went stay Wednesday.
The Secret Community, so named to explain its decentralized governance, is an open supply community that protects knowledge for customers of decentralized functions, now referred to as “Secret Apps.”
With 28 lively validators, the vote was, partly, a transfer to carry the totally different core contributors below a single, identifiable umbrella, though they continue to be separate entities, partly as a method to appeal to builders and customers. With the rebrand now full, an acute push for builders is among the subsequent steps. Key contributors to the event of the mainnet and governance embrace Enigma, Secretnodes.org and Chain Of Secrets and techniques, amongst others.
“Enigma is thrilled that the branding for the mainnet blockchain now better reflects the communal effort supporting the chain, its growth and its mission — to bring privacy to public blockchains,” stated Tor Bair, Head of Progress at Enigma, in a textual content message.
The Secret Community’s protocol lets decentralized functions make the most of encrypted knowledge with out revealing it on a public blockchain, and even to nodes themselves, utilizing sensible contracts that may make the most of non-public knowledge termed “secret contracts.” The key contract testnet is just a few weeks away from launching but when all goes nicely it is going to then be proposed to the mainnet.
As Fintech Zoom has reported beforehand, the purpose is “to create a secure, off-chain environment able to process sensitive and private blockchain data with end-to-end encryption.” If the testnet is included into the mainnet by a vote, it will likely be the primary layer one blockchain with privacy-preserving sensible contracts, based on Bair.
The mainnet relies on the Cosmos software program growth equipment, a community of parallel unbiased blockchains, and utilizing the consensus algorithm Tendermint. It was secured by a “Secret” coin when it initially launched in February. This transfer is an extension to increase that title to the entire community, and mirror its neighborhood pushed progress.
This comes just a few months after an Enigma MPC settlement with the U.S. Securities and Alternate Fee (SEC) over prices referring to the blockchain startup’s $45 million token sale in 2017.
Any further, validators on the Secret Community shall be referred to as “Secret Nodes,” and knowledge being processed shall be stored encrypted from the node itself. The community can also be planning to conduct an incentivized testnet the place validators might help develop this new perform.
“Enigma and the Secret Network community are now looking forward to the upcoming launch of our incentivized testnet and the Secret Games, where we’ll continue to test secret contract functionality for the network,” stated Bair.
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