Enigma refers to a privacy protocol that enhances the security of transactions on the blockchain. It uses unique technology that allows for private data to be shared and used in a decentralized manner. This means that sensitive information is kept secure and confidential, while still being accessible for necessary functions.
The Enigma protocol enables decentralized applications to run on a public blockchain while preserving the privacy of users’ data. This is achieved by encrypting the data and breaking it into different pieces that are distributed among multiple nodes in the network. This ensures that no single party has access to the complete information, providing a higher level of security and privacy for users.
Overall, Enigma plays a crucial role in enhancing the privacy and security of transactions within the cryptocurrency ecosystem, making it an important technology for users who value confidentiality and data protection in their transactions.
