MARCH 10, 2022 | MPC DIGITAL ASSET SECURITY SUMMIT
Qredo is a decentralized digital asset platform for custody, settlement and atomic swaps
Qredo: The Network Is The Vault
Introducing a radical new infrastructure for crypto operations, Qredo’s rearchitected asset ownership for the digital age.
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What is Multi-Party Computation (MPC)?
Multi-party computation (MPC) is a cryptographic tool that allows multiple parties to make calculations using their combined data, without revealing their individual input.
Invented by Chinese computer scientist Andrew Yao, MPC works by using complex encryption to distribute computation between multiple parties.
In the context of digital assets, MPC can be used to replace individual private keys for the signing of transactions. MPC distributes the signing process between multiple computers. Each computer possesses a piece of private data representing a share of the key, and together they cooperate to sign transactions in a distributed way.
Qredo is the first to combine MPC with a L2 blockchain, creating a secure environment for flexible management and instant transfer of digital assets. Read more →
Decentralized MPC vs Hot and Cold Wallets
Since the early days of crypto, wallets have come in two types: Hot wallets, which are connected to the internet, and cold storage, which takes the private keys controlling digital assets offline.
Qredo offers a radical new approach: A suite of trading, settlement and compliance tools that leverage a decentralized implementation of multi-party computation — a unique method of managing private keys.
This post examines how Qredo’s implementation of MPC — which we call decentralized custody — stacks up against hot and cold wallets. Read more →
Decentralized MPC vs Multisig
Multisignature schemes and multi-party computation are both tools for splitting the responsibility for storing digital assets — the digital equivalent of padlocks that require multiple keys to be opened.
But the similarities end there:
- Onchain multisignature schemes are executed on a single blockchain and rely on sharing multiple private keys between different holders.
- Decentralized MPC is Qredo’s unique implementation of multi-party computation. It uses BLS (Boneh–Lynn–Shacham) digital signatures to construct a threshold approval scheme that is secured by Qredo’s own Layer 2 blockchain.
In this post, we cover five advantages that decentralized MPC offers over onchain multisig for organizations managing digital assets. Read more →
DeFi Unlocked: Metamask Institutional
Through Qredo’s partnership with MetaMask Institutional (MMI), professional investors can now enjoy easy, secure, and compliant access to decentralized finance and Web3. Read more →
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Qredo is a radical new blockchain infrastructure that delivers interoperability, lightning-fast settlement, and decentralized custody. Qredo introduces a new paradigm: decentralized custody. This turns the blockchain into a vault, unlocking several benefits that solve real-world problems. Multi-party computation (MPC) technology has previously only been accessible to corporates and institutional investors. But Qredo is opening it up to everyone. We work primarily with traditional and crypto-focused institutions that have the most pressing governance and security needs. This includes hedge funds, asset managers, and corporate treasurers who have been slowly integrating digital assets, In the spirit of open source software, we are glad to make Qredo’s institutional-grade security and governance available to your average crypto holder.