Bitcoin has in the recent days attracted worldwide attention from its involvement in many activities ranging from currency to storage at present. Bitcoin latest venture in storage efficiency is yet another Blockchain breakthrough. The newly developed storage technique involves encryption of sensitive data without the association of third-party organizations such as banking institutions. Bitcoin has worked with MIT to develop a prototype of an encryption storage facility system called Enigma.
Increased data security
Enigma encryption system enables anonymous sharing of data in a secure and safe way between computers. Also, the user can share sensitive data with a third-party without having to worry about data hacking risks and breaches. The encryption also shields the users from monitoring or spying from government or law enforcement agencies. That means that you can perform anonymous transactions if you want them done privately. The primary benefit of the encryption service is that the only person who can decode the data is the user, through a decryption key.
How it works
Just like many other Blockchain applications, the storage encryption system works through a decentralized network infrastructure. The system first dissociates the data and encrypts it separately in many distributed computer components known as nodes. Each node runs its calculations as assigned in different blocks until a user decides to merge the blocks to decrypt it, hence increasing data efficiency.
The storage of the data in separate bitcoin Blockchain nodes leads to prevention of forgery or alteration. Hence, users can comfortably share info with other parties without fear of release of sensitive details.
What do experts have to say?
Expert reviews put enigma on the limelight as offering a fantastic solution to data storage through its reorganization of data on different networks, if handled correctly. The views of different users indicate that the application is appropriate when it comes to authenticity, trust, and reliability.