
Get exclusive money-saving offers and guides
Straight to your inbox
Updated
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Enigma (ENG) is a highly specialised cryptocurrency. The main purpose of the Enigma system is to allow for the analysing and computation of data without that data actually being revealed. For example, if a group of people wanted to work out their average salaries and their exact place in the hierarchy without anyone actually disclosing their individual salaries.
There are two main parts to Enigma.
Note: Enigma ENG is not to be confused with Enigma (XNG). This article is about Enigma ENG.
This is our quick guide to just one way to buy ENG. Compare some other options in the table below.
Enigma and Enigma Catalyst are separate but related projects run by the same team.
This is the initial project. It was created for the purposes of letting people run computations on data while keeping the data itself secure and private.
It’s a very specialised function, but with more application than there might initially seem. For example:
Enigma aims to combine on-chain and off-chain systems to allow for more efficiency. Data is communicated and secured over the blockchain, while computations take place on Enigma’s off-chain system and remaining secured via the blockchain.
It’s intended to be able to connect with existing blockchains and then offload to the off-chain system for processing.
This allows for complex and intensive computations, a wealth of information taken from other blockchains and uncompromising security and reliability.
This will be wrapped up with functionality for developers to create their own decentralised applications to make full use of this data, without any trusted third parties.
Catalyst is an algorithmic trading tool for cryptocurrency exchanges designed to tap into the Enigma data marketplace.
It’s meant to let developers more quickly and easily create their own machine learning trade-bots for cryptocurrency exchanges, with a large pool of data at their disposal.
The ENG token is the main currency of the Catalyst system used to access these opportunities.
Learn more about the DOT cryptocurrency in this beginner’s and buyer’s guide.
There’s no shortage of cooling options when camping, working or four-wheel driving, but what are the best portable fridge freezers in Australia?
The fifth PlayStation console is set to launch on 12 November. We've rounded up all the places you can buy the PS5 in Australia.
Learn more about the RUNE cryptocurrency with this beginner’s and buyer’s guide.
SPONSORED: What are the trends that look set to define cryptocurrency in 2020?
Confused about DeFi? Find out how it works in this easy-to-read guide.
Is now a bad time to buy a new Mac, and what else did Apple announce at its WWDC 2020 keynote?
A beginner’s guide to your cryptocurrency tax obligations and how the ATO is targeting digital currency holdings in 2019.
Bulk buying surgical masks can save you time and money. If you're interested, this is what you need to know about buying online in Australia.
If you want to buy cryptocurrency without ID in Australia, find out everything you need to know in this guide on how to buy bitcoin anonymously.
Where to buy, sell and exchange Bitcoin and cryptocurrency.
Find out which digital wallet is best for you.
How to begin and what to do first.
SPONSORED: Why security and regulation will improve mass adoption.