What is Multi-Party Computation? Integration MPC in HyperBC Security Solutions
Dubai, UAE, Feb. 08, 2024 (GLOBE NEWSWIRE) -- HyperBC recently published its latest technological advancements, emphasizing the importance of security in the rapidly evolving landscape of crypto and blockchain technology. In this dynamic environment, understanding the methods and technologies employed is essential for all stakeholders.
A notable innovation introduced by HyperBC is Multi-Party Computation (MPC). Developed in the late 1970s, MPC is a cryptographic protocol aimed at enhancing computational security independently of third-party entities. This article delves into the significance of MPC, its implications for Blockchain technology, and the rise of MPC wallets.
An MPC wallet serves as a digital tool for securely storing cryptocurrency, leveraging Multi-Party Computation to mitigate risks associated with single points of failure. Unlike traditional wallets, MPC wallets enable multiple users to establish a shared wallet, ensuring uninterrupted functionality even if one user encounters issues. Essentially, MPC wallets empower users to access, manage, and modify assets independently while safeguarding identities and shared assets.
MPC technology partitions the digital wallet's key into multiple "shares" distributed among participants. By setting a threshold, MPC wallets prevent any single user from independently blocking transactions, resembling a democratic decision-making process. This approach guarantees user-independent access, enhancing security by distributing and sharing private keys among participants.
Description of HyperBC MPC WaaS Infrastructure
HyperBC leads the way in offering secure and efficient digital asset custody and payment solutions for businesses navigating the Web3 transition. The MPC WaaS Infrastructure, a cross-platform, multi-cloud SaaS solution, operates in a trusted environment, utilizing the MPC-CMP protocol.
This solution effectively addresses the risk of single-point failure and shields digital assets from potential cyber-attacks, internal collusion, and human error. Here are the essential components of this solution:
The MPC-CMP protocol brings innovation to pre-signing mode, hardware wallet application, authorization flow models, and rapid address generation. It fully adheres to the zero-trust architecture scheme and functions in a chip-level security environment.
TEE & TSS-RSA
HyperBC adopts the TEE using SGX cryptographic computing technology based on Intel CPU hardware, overseeing the entire key generation process and employing the TSS-RSA (Threshold Signature Scheme of RSA) algorithm.
TAP Engine Roles like Owner/Admin/Signer/Approver/Editor/Viewer can be authorized in transaction flows. This allows your company to assign specific individuals to these roles, facilitating quick settlement of trades while effectively managing risks for both your team and actual users.
With HyperBC you can focus on your business with an ease of mind
It doesn’t matter if you’re a traditional business owner wanting to enter Web3 as a newbie, or you’re already adept at setting your own milestones in this crypto world, with the asset management solutions provided by HyperBC, you get to focus more on the actual business, rather than worrying about hacks and security hazards.
It also means you can enjoy efficiency both in cost and time: where HBC provides the best scalability and API wallet solutions, all tailor-made to your request which greatly reduces the technical barriers. In short, HyperBC want the MPC WaaS solution provided to be: accessible, convenient, easy to use, and absolutely secure.
HyperBC is a key player in the digital asset custody and payment solutions sector. Committed to ensuring asset security and promoting financial freedom, HyperBC offers a comprehensive range of services, including asset custody, merchant payments, clearing, and other financial solutions.
Backed by HyperLab, its security R&D center in Australia, and supported by top-tier financial and engineering teams, HyperBC boasts a robust product line, maintaining a leading role in providing WaaS infrastructure for seamless integration into the evolving web3 ecosystem.
For more information, visit the official website: HyperBC
Leslie Liu leslie-at-legend.tech