Vaultoro - Buy gold with bitcoin in seconds
BTC S7,137.12 (-1.29%)
Thu, 12 Dec
  • Conferences & Events
  • Latest News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
No Result
View All Result
CryptoNinjas
  • Crypto Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
SUBSCRIBE
CryptoNinjas
No Result
View All Result

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
November 13, 2019

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

Blockchain privacy protocol Enigma and Chainlink explore use-cases
Vendor Technology

Blockchain privacy protocol Enigma explores new use-cases with Chainlink

December 6, 2019
Unbound Tech teams with Cryptosense to verify security of virtual HSM - CryptoNinjas
Security

Unbound Tech to further verify the security of its virtual HSM with Cryptosense

November 6, 2019
Offchain Labs launches Alpha of scaling solution; Coinbase invests
Vendor Technology

Offchain Labs launches Alpha of scaling solution; Coinbase invests

September 5, 2019
Capital Raising

Blockchain ecosystem Outlier Ventures invests in computation protocol Enigma

August 27, 2019
Sepior crypto wallet now interoperate with VMware Blockchain
Wallets

Sepior crypto wallet now interoperate with VMware Blockchain

August 26, 2019
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Updates

æternity wins key blockchain partnerships in Uruguay for agriculture, supply chain and more

Parity rolls out Substrate Builders Program to streamline developer ecosystem

ChainX invests over $100,000 to find the world’s first Bitcoin DApp

Ledger Nano S crypto wallet users can now connect to ShapeShift

SVH launches blockchain-powered API for healthcare data

Where to Exchange

itBitAmerica’s first regulated bitcoin exchange
LukkiCrypto exchange with an innovative gamification process
PayBitoGlobal platform for bitcoin & cryptocurrency exchange
PayBito
Vaultoro is the first fully real-time bitcoin gold exchange

CryptoNinjas Newsletter

Trending Views

Beta version of Beam’s atomic swap marketplace now live

Blockchain privacy protocol Enigma explores new use-cases with Chainlink

SpaceChain sends blockchain hardware wallet to International Space Station

Jelurida’s Coalculus blockchain set for launch along with airdrop

SUKU and DreamView Studios to bring supply chain transparency for the virtual world

Crypto exchange ChangeNOW freezes 9 ETH deposit from Upbit hackers

SatoshiPay pilots global blockchain payments wallet for businesses

Cross-chain liquidity protocol Ren launches developer portal; first 3rd-party dApp built

Ledger Nano S crypto wallet users can now connect to ShapeShift

  • Home
  • Crypto Links
  • Data
  • About
  • Contact
SUBSCRIBE

© 2020 CryptoNinjas Disclosures | Privacy Policy

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

© 2020 CryptoNinjas Disclosures | Privacy Policy