For example Enigma is a decentralized privacy guaranteed computing platform and

For example enigma is a decentralized privacy

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security is data protection and privacy. For example, Enigma is a decentralized, privacy-guaranteed computing platform and an advancement on blockchain technology. The goal of Enigma is to enable developers to build an end-to-end decentralized application that is’ privacy by design’ without a trusted third party. Enigma is an expansion of blockchain technology since processing and data storage are not achieved within the blockchain, instead the blockchain is an “operating system” for secure multiparty computations performed by network-participating storage and computation nodes. Information is split between di ff erent nodes, and di ff erent nodes are working together to measure functions without leaking information to the other nodes. In summary, “no single party has access to data in its entirety; rather, each party has a piece of it that is meaningless (i.e., apparently arbitrary). Blockchain holds the promise to create the new data deal, a greater degree of individual ownership, control and content distribution of personal data, within a system that allows community to benefit from the aggregation of data. The tra ffi c congestion information inside Google Maps is a clear example of the benefits of data aggregation: by adding location, travel speed and other essential personal information, drivers benefit from the common data pool to achieve shorter tra ffi c time and avoid tra ffi c jams. To do this, however, Google needs to combine driver personal location information. BlockVerify, on the other side, is an instance of a start-up using blockchain to claim intellectual property by checking the origin of luxury items, physical items and addressing the problem of counterfeiting goods by verifying the legal status of pharmaceutical products, diamonds and electronics. This kind of security occurs because blockchain is decentralized so that for its maintenance it does not rely on a single authority, and therefore a single case of mishandling causing a point of failure does not a ff ect the consistency of records. Another article [ 57 ] decribes blockchain and Ethereum as secure platform for handling all kind of sensitive information. It states blockchain as a system that’s decentralized. To solve business problems, it has extensive strength. In a blockchain transaction, encryption secures the records and each transaction is connected to previous transactions or a record. Blockchain transactions are validated on the nodes using algorithms. It is impossible for a single person to make a transaction. Eventually, blockchains have transparency, allowing each user at any time to track the transactions. Smart contract is a secure process that helps prevent interruption by third parties. Ethereum is a distributed network running smart contracts. This helps developers to create markets to move funds according to instructions given in the past for a long time. Blockchain’s main features are Decentralization, Immutability, quick transfers, Payment and confirmation within no time.
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