Enigma and KyberNetwork Partner To Expand Blockchain & Crypto-Asset Adoption

October 25, 2017         By: Payment Week

Boston, MA – October 25, 2017Enigma, a decentralized data marketplace protocol built by MIT graduates, has today announced a partnership with world renowned digital assets exchange and payments processor, KyberNetwork. The collaboration focuses initially on initiatives around Enigma’s landmark product, Catalyst, a machine-based investing platform and trading infrastructure for digital assets. Catalyst will be used to support reserve operators on KyberNetwork, while KyberNetwork will integrate with Catalyst as a data provider and as an exchange service. In the longer term, both companies will work towards their shared perspective for the decentralization of crypto-asset exchange and the expansion of blockchains through potential initiatives in different industries and verticals.

Enigma co-founder and CEO Guy Zyskind said: “Enigma has an ambitious goal to build a protocol that can support mass adoption of decentralized applications. As a first step, this partnership will help build momentum and acceptance of the Enigma protocol, working toward our goal of democratizing data. All of us at Enigma have tremendous respect for the KyberNetwork team and their view for the future of decentralization. Our companies are excited to work towards future strategic initiatives and believe this sets a strong precedent for our other partnerships in the space.”

While the original concept of the internet is that of decentralized information and freedom, the past decade has seen the increased centralization of data owned by a few large companies. Data is quickly becoming the most valuable digital asset. The primary aim of the Enigma protocol is to return to the original vision of the internet and create a single, open-sourced protocol for permanently storing, sharing and processing of data. Enigma is building a decentralized, scalable blockchain data marketplace for the web by building a necessary second-layer, off-chain network. Through this unique infrastructure, Enigma aspires to fix the biggest flaws of blockchain — scalability and privacy.

Loi Luu, KyberNetwork co-founder and CEO, said: “Our partnership with Enigma solidifies our aspiration to be the leader in the crypto-asset exchange sector. With Enigma’s vision, their deep understanding of blockchain technology and the power of Catalyst, this collaboration is expected to spark innovation and additional research into the intricacies of trading behavior. In so doing, we hope that our efforts can close the gap between data demand and supply, and empower effective and efficient use of data.”

Enigma and KyberNetwork aim to revolutionize how data is used and to realize the full potential of the blockchain economy. The number of unique crypto-assets circulating in the market will expand as the sector continues to mature. Enigma and KyberNetwork’s continued evolution and collaboration will ensure state of the art infrastructure for the transaction of crypto-assets in the future.

Follow Enigma and Catalyst’s progress and updates at https://blog.enigma.co/@EnigmaMPC

About Enigma

Enigma is creating a decentralized data marketplace protocol to revolutionize the way data is shared, aggregated and monetized. Enigma seeks to enable the scalability of blockchains by providing a complementary off-chain data network, where larger quantities of information can be securely shared and processed without incurring severe on-chain costs. Enigma’s first product to be built on the Enigma protocol is Catalyst, which connects crypto traders and investors with the data critical to creating their edge in the crypto markets and provides them with backtesting, research, and execution tools. Enigma’s goal is to build protocols and products that revolutionize data sharing in the same way Bitcoin has revolutionized payments. For more information on Enigma, please visit https://www.enigma.co/

About KyberNetwork

KyberNetwork is an on-chain protocol which allows instant exchange and conversion of digital assets (e.g. crypto tokens) and cryptocurrencies (e.g. Ether, Bitcoin, ZCash) with guaranteed liquidity. KyberNetwork will be the first system that implements several ideal operating properties of an exchange including trustless, decentralized execution, instant trade and high liquidity. Besides serving as an exchange, KyberNetwork also provides payment APIs that will allow wallet accounts to easily receive payments from any crypto tokens. Visit https://kyber.network/ for more information.