🚨 Centralized MPC wallets = Major risks 🚨
Quick thread on why 👇
Quick thread on why 👇
https://twitter.com/Santiag78758327/status/1428468944680128516
Typically, multi-party computation (MPC) solutions record digital asset ownership rights in a centralized database or on vulnerable cloud infrastructure
1/5
1/5
When MPC nodes are centralized like this within the infrastructure of one organisation, they de facto control all the signatories
This means they might as well be holding your private keys
#notyourkeys
2/5
This means they might as well be holding your private keys
#notyourkeys
2/5
Qredo's MPC protocol generates multiple independent secrets from the private key
These secrets are distributed between MPC Nodes that are co-ordinated by blockchain consensus
3/5
These secrets are distributed between MPC Nodes that are co-ordinated by blockchain consensus
3/5
The ownership rights granting permission to run the MPC protocol are recorded on an immutable distributed ledger
Private key risk is completely removed!🔑🔒
4/5
Private key risk is completely removed!🔑🔒
4/5
By making the latest in MPC security accessible to everyone, we can create a safer cryptoasset space for all participants
Learn more about MPC and our unique implementation on the Qredo blog
➡️qredo.com/blog/what-is-m…
Learn more about MPC and our unique implementation on the Qredo blog
➡️qredo.com/blog/what-is-m…
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