Multi-Party Computation (MPC)
Multi-party computation or MPC is a keyless method for transaction signing that replaces the private key with key shares separately generated by multiple non-trusting parties without sharing any data. This means no single party ever has access or visibility of the entire key. Transactions are signed, approved and broadcasted with a single signature and the signers’ key shares never become public information, or even leave their holder’s domain.
The Vaultody Vault works with a Threshold Signature Scheme (TSS) which offers absolute protection of assets from external hacks and insider threats. With TSS, a threshold of active signers must be met before a transaction can be authorized. Thanks to the MPC, there is no way to know which signatories signed, so security and privacy are ensured. The MPC method also reduces transaction size, which means lower fees.
Secure, flexible & scalable
MPC-based solutions can scale a lot quicker and with greater ease due to their blockchain agnostic nature and adaptability to sudden changes, such as blockchain forks, larger client pool, and technology advances.