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: Binance Founder Suggests President Trump Could Be Satoshi Nakamoto In Latest Statement
  • 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: Binance Founder Suggests President Trump Could Be Satoshi Nakamoto In Latest Statement

MIT Media Labs Unveils Bitcoin Inspired Data Encryption Project

Yashu Gola
Yashu Gola
5 years ago
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

Ethereum

Ethereum Rebounds From Bull Market Support: Can It Conquer The ‘Golden Pocket’ Next?

Ethereum is showing renewed strength after rebounding from its Bull Market Support Band, a key zone that has historically served...

Godspower Owie 1 day ago
Trump

Trump To Install New Pro-Crypto CFTC Chair? Here’s What We Know So Far

New reports reveal that United States President Donald Trump has picked pro-crypto Michael Selig as the new chair nominee for...

Scott Matherson 1 day ago
Bitcoin

‘Money Will Pour In’ – CEO Predicts Bitcoin Will Explode To $180K

According to VanEck’s Mid-October 2025 ChainCheck, Bitcoin could climb much higher if several big pieces line up. The firm ties...

Christian Encila 1 day 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

XRP

XRP/BTC Retests Six-Year Breakout Trendline, Analyst Calls For A Decoupling

Scott Matherson 5 hours ago
Bitcoin

Bitcoin Reserves On Binance Fall To July Lows — What This Means For Price

Semilore Faleti 14 hours ago
XRP

XRP: The Catalyst For ‘Humanity’s Greatest Shift’ By 2030 —Analyst

Christian Encila 11 hours ago

Premium Sponsors

Press Releases

  • リップル 今後 の価格見通し:強気のH&Sパターン出現、次の目標は5ドルか?

    リップル 今後...

    8 hours ago
  • シバコイン 今後 の価格予測:保有者数154万人を突破も、主要サポートラインに下落圧力

    シバコイン 今後...

    10 hours ago
  • パイネットワーク 価格 が安定化、KYC認証336万人突破でエコシステム拡大

    パイネットワーク 価格...

    10 hours ago
  • イーサリアム 今後 の価格見通し:3,800ドルを維持、今が買い時か?2025年に5,000ドル到達の可能性

    イーサリアム 今後...

    10 hours ago
  • ビットコイン 今後 の懸念:量子ジレンマが深刻な弱気相場を招く可能性

    ビットコイン 今後...

    15 hours 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.