Continuing the discussion from Homomorphic encryption by MIT:
Enigma is a decentralized cloud
platform with guaranteed privacy. Private data is stored, shared and
analyzed without ever being fully revealed to any party. Secure multi-party computation, empowered by the blockchain, is the magical technology behind it.
The scripting language is also turing-complete, but this is not as important as its scalability. Codeexecution in blockchains is decentralized but not distributed, so every node redundantly executes thesame code and maintains the same public state. In Enigma, the computational work is efficientlydistributed across the network. An interpreter breaks down the execution of a private contract,as is illustrated in Figure 1, resulting in improved run-time, while maintaining both privacy andverifiability.The off-chain network solves the following issues that blockchain technology alone cannot handle:1.Storage. Blockchains are not general-purpose databases. Enigma has a decentralized off-chaindistributed hash-table(orDHT) that is accessible through the blockchain, whichstores references to the data but not the data themselves. Private data should be encryptedon the client-side before storage and access-control protocols are programmed into theblockchain.
Here is their whitepaper: http://enigma.media.mit.edu/enigma_full.pdf
a few excerpts:
“7 IncentivesSince Enigma is not a cryptocurrency or a blockchain, the incentive scheme is based on fees ratherthan mining rewards, where nodes are compensated for providing computational resources. Fullnodes are required to provide a security deposit, making malicious behaviour punishable.”
7.2 Computation FeesEvery request in the network for storage, data retrieval, or computation has a fixed price, similar tothe concept of Gas in Ethereum. Unlike Ethereum where every computation is run by every node,in Enigma different nodes execute different parts of each computation and need to be compensatedaccording to their contribution, which is measured in rounds. Recall that every function is reducedto a circuit of addition and multiplication gates, each of which takes one or more rounds. A nodeparticipating in a computation is paid the weighted sum of the number of rounds it contributed toand the operations it performed (addition, multiplication).Since the platform is turing-complete the exact cost of a request cannot always be pre-calculated.Therefore, once the computation is finalized, the cost of each request is deducted from an accountbalance each node maintains. A request will not go through unless the account balance is over aminimum threshold.7.3 Storage FeesFees for data storage are market based and time limited. The hosting contract is automaticallyrenewed using the owner’s account balance. If the balance is too low, access to the data will berestricted and unless additional funds are deposited, the data will be deleted within a certain amountof time.
8.9 Blind E-VotingVotes on anything, from political elections to company board meetings, without exposing anythingbesides the final outcome. Not only is the privacy of each voter is maintained, even the actual vote-count can remain private. For example, if the elections require any kind of majority vote, but nodetails about the distribution, a unanimous decision would be indistinguishable from one decided bya single vote.
Reading this makes me very happy. It just confirms the direction the geniuses of the world are going. It also makes me happy to know I chose the right team to be on (SAFE network community). I wonder how long it will take for them to realize MAIDSAFE has already paved a bright shinny road in the same direction…just a lot further along with the help of a thousand minds from all walks of life and vantage point. MIT would have something the world has never dreamed of if they added in SafeCoin, autonomous paying to farmers/app builders/core developers/and unlimited others stacked on top…oh wait, then it would be the SAFE network
I think @dallyshalla and others looking at combining distributed and blockchain type stuff could find a few gems in their paper.