Enigma Announces Settlement with SEC and Successful Launch of Enigma Mainnet

This article was first published on Stories by Enigma Project on Medium

We are pleased to share more details on these significant developments and the future of the Enigma protocol.

Today, Enigma MPC is pleased to announce two significant events related to the development of the Enigma network, a decentralized protocol to enable secure computation over encrypted data: we have reached a settlement with the US Securities and Exchange Commission (SEC), and the first Enigma mainnet was successfully launched on February 13th, 2020.

SEC Settlement

First, Enigma MPC has reached a settlement with the US Securities and Exchange Commission (SEC) related to the issuance of ENG tokens in September 2017. This settlement clears the way for our development team to focus fully on our original and continued vision: building groundbreaking privacy solutions that improve the adoption and usability of decentralized technologies, for the benefit of all.

We will continue to release more details related to this settlement in the coming days so that the Enigma community can better understand next steps. We are thrilled to have the opportunity to put this process in the rearview mirror and turn back to our development work with our full attention and energy.

Mainnet Launch

With this settlement behind us and the promising future of Enigma still ahead, we can again begin to push forward and meaningfully advance the Enigma protocol. As a result, we are thrilled to share our second announcement: following an extended period of successful testnet trials, the first Enigma mainnet has been successfully launched, supported and operated by over 20 independent validators from the Enigma ecosystem and community.

The mainnet is a proof-of-stake-based blockchain based on Cosmos SDK/Tendermint. It is secured by a new native coin, Secret (SCRT), which is used for staking and transaction fees within the network. This new chain serves as the consensus layer for the Enigma network, replacing Ethereum. Successful ...

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Stories by Enigma Project on Medium

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