NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin And Ethereum Post Worst Start To A Year On Record: Fortune
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin And Ethereum Post Worst Start To A Year On Record: Fortune

MIT Media Labs Unveils Bitcoin Inspired Data Encryption Project

Yashu Gola
Yashu Gola
Last Updated: October 7, 2020 11:33 am
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

MIT Media Labs, in collaboration with two Bitcoin entrepreneurs, has unveiled a project that would protect cloud-based data from being discovered by third-party entities.

Dubbed as Enigma, the project is hoping to meld decades-old data security method, known as “homomorphic encryption”, with the cryptography technology behind the digital currency Bitcoin. Doing so, the creators of Enigma will be maintaining the data’s overall privacy during its propagation from one place to another. The project will apply some mathematical tricks on the data that will make it unreadable to hackers and surveillance parties; and even to the very computers — the blackboxes — that are running computations on it.

“You send whatever data you want, and it runs in the black box and only returns the result,” states one of the aforementioned Bitcoin entrepreneurs, Guy Zyskind. “The actual data is never revealed, neither to the outside nor to the computers running the computations inside.”

The Bitcoin Working Model

As stated above, Enigma is a result of an amalgamation between homomorphic encryption and Bitcoin technology.

A simple-worded technical explanation of its working model goes like this: When a user sends some data to someone, the homographic encryption method breaks the data in multiple segments, and distributes each of this chunk to Enigma’s pre-appointed computers — known as “nodes”. These nodes provide their computational power to recombine the said chunks into its original form. Deciphered they are, the chunks reveal no inside information to these nodes. A Bitcoin blockchain meanwhile keep tracks of all the assigned data segments, so as to make sure that no data is lost or mismanaged during the entire sending process.

“I can take my age, this one piece of data, and split it into pieces, and give it to ten people,” says Zyskind. “If you ask each one of those persons, they have only a random chunk. Only by combining enough of those pieces can they decrypt the original data.”

The Expected Drawbacks

There are indeed few hurdles Enigma is likely to face while pursuing its plans to introduce data privacy. The first and the most obvious one is indeed the requirement of hundreds and thousands of nodes to kick start the obfuscation. The creators however have sketched out a fairly practical plan to resolve this issue. They have introduced a certain incentive methods for the nodes — just as the cryptocurrency Dash, which rewards its masternodes for signing the obfuscated transactions. The process still might end up being sluggish, for the data will need to go through individualistic approvals before reaching its expected destination.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

The Great Bitcoin Handover: $8.2 Billion BTC Swamps Binance As Retail Momentum Fades

The Great Bitcoin Handover: $8.2 Billion BTC Swamps Binance As Retail Momentum Fades

Bitcoin is struggling to reclaim the $69,000 level as persistent selling pressure continues to dominate the short-term market structure. After...

Sebastian Villafuerte 7 hours ago
고래들, 비트코인 47억 달러 매집… 4주 연속 하락 속 반등 신호 포착

고래들, 비트코인 47억 달러 매집… 4주 연속 하락 속 반등 신호 포착

비트코인(BTC)이 4주 연속 하락세를 이어가며 사상 최고가였던 12만 6,300달러에서 크게 후퇴해, 작성 시점 기준 약 6만6,720달러 부근에서 거래되고 있다. 시장 전반에는...

Yeom Jisun 8 hours ago
Ethereum

Why Ethereum’s Endgame Requires Rebuilding The Base Layer

The long-term vision for Ethereum is increasingly shifting beyond incremental upgrades toward a more fundamental transformation of its core architecture....

Godspower Owie 8 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Enters Historic Buying Zone, Indicator Suggests

Christian Encila 1 hour ago
Bitcoin Whales

Bitcoin Big-Money Exits: Large-Holder Supply Hits Lowest Since May 2025

Keshav Verma 2 hours ago
Bitcoin

Bitcoin And Ethereum Post Worst Start To A Year On Record: Fortune

Ronaldo Marquez 5 hours ago

Premium Sponsors

Press Releases

  • CreditBlockchain

    CreditBlockchain cloud mining helps users earn up to 0.078...

    3 weeks ago
  • モネロが686ドルで史上最高値を更新、時価総額トップ11入り──1月に注目のアルトコインは?

    ...

    1 month ago
  • ChatGPTが分析:2026年の仮想通貨 1000倍候補はどれか

    ChatGPTが分析:2026年の仮想通貨...

    1 month ago
  • 新しい仮想通貨:2026年に注目すべき3銘柄、次に急騰するコインはどれか

    ...

    1 month ago
  • ドージコイン 今後:ミームコイン市場に投機売買が再び戻る

    ドージコイン...

    1 month ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.