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Jun 15, 2017 09:03 AM EDT

A group of MIT graduates has created a trading platform that is solely dedicated to cryptocurrencies. One unique characteristic of the platform is it allows traders complete control over their data and make a profit while preserving anonymity.

Guy Zyskind, CEO of Enigma and a graduate of MIT, developed the cryptocurrency trading platform called Catalyst. Aside from enabling traders complete control over their assets, they can also incorporate any variable they have into the algorithm.

Those who want to start trading on the Catalyst platform should first open payment channels in the currencies they want to trade in. They also have to choose a liquidity provider where they submit their orders and receive an online counterparty match. After that, a single, cross-chain payment is routed through the liquidity provider as assets are exchanged.

According to the Catalyst white paper, the platform is designed to make sure that traders have complete control over their assets and keep the trading algorithms they use in secret.

Zyskind and the Enigma team also said that they plan to open source the trading platform's infrastructure in order to keep it growing and evolving. The team believes that such exchanges can further enhance the reliability of the platform as well as the liquidity of the payment networks behind it.

Enigma is also looking forward to making Catalyst a platform for live trading of Initial Coin Offerings or ICOs, which are normally handled through an Ethereum smart contract. Once this is implemented, Catalyst will be fully compatible with Raiden Network, Ethereum's payment network.

Zyskind likens the Catalyst to the Wild West, where there is still new territory to explore and discover. Despite this, he said that more and more people are looking into the platform and express their interest in investing.

He added that he and his team believe that cryptocurrencies have a big part in bringing financial freedom to people. With this in mind, they hope that Enigma will be one of the driving forces that will push cryptocurrencies into the mainstream.

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