Thursday February 25, 2021
Bitcoin (BTC) $50,913.00   Ether (ETH) $1,654.15
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Security

The MPC Alliance forms to elevate security and privacy of blockchain services

The persistent digitization of nearly every facet of our daily personal and professional life has created a rapidly expanding and distributed digital footprint which is increasingly valuable and vulnerable to misuse or theft.

Published by CryptoNinjas.net
11/13/2019
The MPC Alliance forms to elevate security and privacy of blockchain services

Developers and practitioners of Multiparty Computation (MPC), announced today the formation of The MPC Alliance, an association of parties with a shared interest in improving the security and privacy of our personal and professional data through the application of privacy-preserving, secure MPC.

Founding members include: Curv, CYBAVO, Cybernetica, Enigma, Fireblocks, IJS Technologies, Insights Network, KeyTango, Offchain Labs, NuCypher, Partisia, Sepior, Unbound Tech, and ZenGo

The MPC Alliance was envisioned and initiated by Sepior, Unbound, and ZenGo. Alliance members represent a mix of developers of MPC-based products, and practitioners MPC-enhanced services. They share a belief that MPC materially enhances the security and privacy of online services and that accelerating adoption will benefit the industry at large.

MPC is applicable to a range of security and privacy use cases. One example is using MPC to protect the private keys used for generating a digital signature to approve transactions on blockchains.

“And, it’s not just about improving security in legacy settings. It’s about unleashing service innovation through new security and privacy paradigms that are better aligned with today’s more distributed and increasingly collaborative services. Such services can provide more compelling user experiences and operational efficiencies with distributed trust.”
– Yehuda Lindell, co-founder and chief executive officer of Unbound Tech

According to a recent Gartner report…“There are wallet technologies that support user custody and recovery using a self-managed private key, but these are too cumbersome to use and most blockchain application operators will not impose them on their users. Nonetheless, hackers are succeeding at gaining access to these centrally maintained private user keys using age-old techniques, enabling them to gain unauthorized access to bank accounts and other organizational assets. In addition, sometimes the threat arises internally from employees, especially in cryptocurrency organizations where vast amounts of money are stored and moved on a daily basis. This is particularly problematic because current implementations of key management — where private keys are centrally maintained — almost negate the benefits of secure cryptographic access that they enable. MPC addresses this significant problem using clever and secure mathematical algorithms that can sign transactions without the use of a private key at all. Multiple parties work together to execute a transaction based on a secure cryptographic operation.”

“MPC is a game-changer for multiple reasons. For starters, it provides the option to distribute trust, so that no one is entirely dependent on a single party that is subject to hacking or misbehavior. Distributing trust makes MPC-based systems inherently more secure and resilient.”
– Ivan Damgard, co-founder of Sepior, IACR fellow, and professor at Aarhus University

Multiparty computation (MPC) is a mathematical approach to digital security which reduces the dependency on trusted 3rd parties and physically secured devices to maintain the privacy and security of our digital footprints. MPC is a subfield of cryptography which allows multiple parties to compute an output using their private data without ever disclosing their data. It is capable of doing so while guaranteeing the correctness of the output even if some parties become corrupt.

10
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Ibanera to use Fireblocks for secure crypto service management
Vendor Technology

Ibanera to use Fireblocks for secure crypto service management

01/26/2021
Fireblocks gets $30M Series B to expand enterprise crypto storage platform
Vendor Technology

Fireblocks launches staking services with Blockdaemon and Staked support

01/14/2021
TrustToken integrates with Secret Network to enable private stablecoins
Networks & Protocols

TrustToken integrates with Secret Network to enable private stablecoins

01/14/2021
Fireblocks gets $30M Series B to expand enterprise crypto storage platform
Capital Raising

Fireblocks gets $30M Series B to expand enterprise crypto storage platform

11/19/2020
Revolut enlists Fireblocks for crypto wallet and network security infrastructure
Security

Revolut enlists Fireblocks for crypto wallet and network security infrastructure

10/09/2020
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
Bitcoin ATM company Lamassu unveils brand new operator admin system

Bitcoin ATM company Lamassu unveils brand new operator admin system

02/23/2021
DeFi fund manager yAxis launches v2 to make earning interest on crypto more accessible

DeFi fund manager yAxis launches v2 to make earning interest on crypto more accessible

02/22/2021
Bitcoin Suisse increases depositor bank guarantee to CHF 110M

Bitcoin Suisse increases depositor bank guarantee to CHF 110M

02/23/2021
Amber Group boosts its crypto trading infrastructure security with AnChain.AI

Amber Group boosts its crypto trading infrastructure security with AnChain.AI

02/23/2021
Crypto exchange technology platform HollaEx gets upgraded suite

Crypto exchange technology platform HollaEx gets upgraded suite

02/18/2021
ZelaaPayAE deploys Pundi X's merchant crypto payment solutions for UAE

ZelaaPayAE deploys Pundi X’s merchant crypto payment solutions for UAE

02/24/2021
Tatum helps donation-based betting app Fandona complete its blockchain MVP

Tatum helps donation-based betting app Fandona complete its blockchain MVP

02/24/2021
Modulus launches blockchain-as-a-service platform for product authenticity & tracking

Modulus launches blockchain-as-a-service platform for product authenticity & tracking

02/24/2021
BitMEX adding six new perpetual contacts: ADA, DOT, EOS, YFI, UNI, and XLM

BitMEX adding six new perpetual contacts: ADA, DOT, EOS, YFI, UNI, and XLM

02/24/2021
Alameda Research leads $40M round in decentralized prime brokerage protocol Oxygen

Alameda Research leads $40M round in decentralized prime brokerage protocol Oxygen

02/24/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version