The company Rayls launched a new tool called Enygma, which helps protect the privacy of transactions made with cryptocurrencies like Ethereum. It was specially designed to serve banks and other financial institutions that need to follow strict rules while maintaining confidentiality.
What does Enygma do?
Enygma allows balances and transactions to remain protected and invisible to the public, even if they are recorded on the blockchain. In other words, the data is there, but no one can see the details — unless authorized.
This technology already works on Rayls' own network, called Rayls Network, and can be used by companies that need to operate with more security and discretion. All this without needing to switch to another type of blockchain or use special wallets.
How is this possible?
The secret lies in the use of advanced security technologies, such as zero-knowledge proofs and homomorphic encryption. Despite the complicated names, these tools ensure that:
Transactions remain hidden from those who do not have permission to view them.
Institutions can follow rules and regulations, even with protected data.
It should be possible to use tokens (such as NFTs and digital currencies) privately, without relying on external solutions.
The system works in two parts: a public area, where everything works normally, and private subnets, exclusive to financial institutions.
Rayls launches Enygma, a privacy solution for secure transactions on Ethereum | Photo: Disclosure
And what if it's necessary to investigate?
To ensure that the technology is not used illegally, Enygma has a feature called 'God View'. It allows an authorized person, such as an auditor, to see private data when necessary — but without exposing more information than is necessary.
Future and collaboration
Rayls also wants more developers and companies to participate in this innovation. Therefore, it will release the code of Enygma and other related programs by the end of 2025. The idea is to help build safer and more private applications and smart contracts.
The company is in contact with the Ethereum community and wants its solution to be part of a larger plan to improve the privacy of everyone on the network.
According to Marcos Viriato, CEO of Parfin (one of the project supporters), "privacy is non-negotiable, especially when we are talking about banks and companies that operate in environments with many rules."
The article 'Blockchain launches privacy tool compatible with Ethereum' was first seen on BeInCrypto Brasil.
