CYBAVO and a group of other industry leaders have launched the MPC Alliance. The mission of the MPC Alliance is to improve data security and privacy through the implementation of the secure cryptographic technology of multiparty computation (MPC).
The Alliance members believe that a broad adoption of MPC technology can benefit the industry by enhancing the privacy and security of online services and data. CYBAVO shares this belief and has joined the Alliance as a founding member.
MPC is a cryptographic technique which allows multiple parties to make computations using their private data without ever disclosing it to any third party. The technology is resistant to the corruption of some of the parties, being able to ensure the correctness of the output even in that case.
The application of MPC technology has proven to be a great addition to private key management security. For example, a system can generate random shares of a private key, distributed into separate nodes. The private key is never created entirely at any point of the key lifecycle, reducing the risk of an attacker stealing the key. The key shares provide no information about the identity of the private key, so even if these are stolen, an attacker could not forge a signature from them. Thanks for MPC each private key share can partially sign the data, resulting in a fully signed information without any party revealing the secret. This mechanism can protect the private keys used for generating a digital signature to approve transactions on public or permissioned blockchains.
Founding members of the alliance include: Curv, CYBAVO, Cybernetica, Enigma and other industry leaders. The MPC Alliance was envisioned and initiated by Sepior, Unbound, and ZenGo.
About MPC Alliance
Members of the alliance 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. Members of the alliance share a belief that many current and emerging online markets will benefit from MPC and working together as an alliance will help to accelerate awareness, mitigate barriers, and encourage adoption for greater privacy and security of online services. Companies developing or applying MPC to solve real world problems are invited to join, contribute, and participate in accelerating market awareness and adoption of MPC. Visit www.mpcAlliance.org for more information. You can also follow The MPC Alliance on LinkedIn, Facebook, Twitter, Instagram, and Telegram.
About CYBAVO Pte. Ltd.
CYBAVO Pte. Ltd. provides secure private key storage and management enterprise solutions for blockchain, including usable cryptocurrency custody platform and services for enterprise and financial institutions, such as cryptocurrency exchanges, digital asset managers or custodians.
The company was founded in 2018 by a team of experts from cybersecurity, blockchain and digital currency industries. The company has developers and researchers with solid experience in the security and cryptocurrency fields.
Contact: Roberto Machado - robert[at]cybavo.com