The enigma project is a San Francisco based project operated by a group of students from MIT. The project is paving way for the development of a more secure and faster investment platform compared to the existing exchanges. The Enigma is probably the next big investment platform in the cryptocurrency technology. According to the MIT students, they describe this project as a decentralized computation network that has guaranteed privacy. It is a Catalyst investment tool that provides machine based investment platform for cryptocurrencies. Enigma is useful for developers interested in the use of artificial intelligence for trading in the cryptocurrency technology.
According to Guy Zyskind, one of the Enigma co-founders, the cryptocurrency traders are demanding trading practice. The same demand is all over the stock market and it can only be solved through artificial intelligence. Enigma is supposed to help in providing the artificial intelligence needed.
Enigma is launching a beta version for developers helping them to upload codes on the trading strategies they prefer. The uploading of codes will allow investors to create a record of losing and earning money. With the availability of the record and with a certain time frame such as weeks and months, the company will make the site open for outside investors giving them to change to choose and invest in the investments they love.
Since the cryptocurrency community is growing and still evolving, the essential data sourced are still fragmented and scarce. Enigma hopes to change things in the cryptocurrency landscape and make it similar to mature financial markets. With Catalyst, data will be available for use in a trade. It will be automated including actual recorded price information and analyses of cryptocurrencies based on news stories and social media posts.
Enigma also invites users for developing data offered to other individuals looking for metric on when and how trading is or individuals looking for setting up funds to start trading at a considerable fee. Investors who are interested in experimenting with refined and sophisticated trading strategies, they face limitations to open-source trading bots. This proves risky for an investor making enigma a better choice.
With the help of enigma project, the crypto market becomes more agreeable to average investors and managers and not to cryptocurrency enthusiast only. With the launch of the beta version, developers and investors can create and track their performance record on the platform. Enigma also helps investors invest through sophisticated trading strategies.
On the 21st of August Enigma was targeted by a group hackers and had its website and several social media platforms compromised. The attackers were able to steal an amount of ETH equal nearly to $500000
Enigma has taken responsibility and had decided to restore the funds from the people who were affected by this attack.