Flipside Daily Mover: ENG
A coin per day, making big moves
ENG Launches Testnet Focused on Developers
June 18, 2019
ENG Developer Behavior climbed 3.53% over the last 30-days. FCAS is up 46-points (7.26%) as User Activity also spiked 77-points (18.97%). Market Maturity is down 7-points (-1.15%). Price is up 21.66% over the same time period.
Ready to Deploy
The Daily Mover spotlight was on Enigma back in early April as the team was gearing up for their next major milestone, Testnet release. At the time, fundamentals were on the rise while the team released their open-source code, provided details around Discovery mainnet tokenomics, and revealed specs on how to run one of their secret nodes. There has been considerable excitement around ENG’s decentralized platform, as it is equipped with secret smart contracts that can call any function on an Ethereum smart contract while maintaining end-to-end privacy.
On June 11th, ENG finally unleashed their Testnet Developer Release of the Discovery Network, a major step towards mainnet launch on Ethereum. Fundamentals were on the rise leading up to launch and have maintained a significant upward trend in the days following. This release is geared towards developers looking to build features of their DApps on top of Enigma’s encrypted infrastructure. Once built on testnet, Developers will be able to directly deploy their code in the public version of the network, so that Discovery can launch with live applications.
🌶️ Hot Take
A common theme in Daily Movers as of late (evidenced by yesterday’s coverage of the Credits platform) has been around what competitive differentiators blockchain platforms can offer to the market in order to attract DApps and enterprises to utilize their ecosystem. Many have relied on transaction speeds and scalability as main drivers of adoption, but none have been able to deliver what Enigma is bringing to the market.
By leveraging secret smart contracts to perform off-chain computations on encrypted data and using Ethereum as a consensus layer, the team is delivering privacy and scalability to the market in a way no other projects can match. While a mainnet launch date has not been set, Engima has carved a niche for itself in the space and will be an exciting project to watch through 2019.
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