What is MPC?
Updated
Multi-Party Computation (MPC) is a technology that adds an extra layer of security to the traditional private key architecture used in cryptocurrency wallets.
MPC works by splitting a user's private key into multiple shards, which are then distributed across multiple nodes. This ensures that no single person has full access to the traditional private key, offering a more secure self-custodial option.
This distributed approach protects against both private key theft and key loss, as each party can back up their secret input individually without compromising the entire system. Even if something happens to one of the shares, no one can access a user's crypto except for the user themselves.
One of the most significant benefits of using MPC is that no single entity can ever get access to any private key, as there is no single point of vulnerability. Even if an attacker tries to gain access to one of the shards, they cannot access all of the secret shares simultaneously, making a user's digital assets much safer than in the traditional private key architecture.
By utilizing MPC technology, Okto strives to provide the highest level of security for all users and protect against potential threats in the constantly evolving cryptocurrency landscape.
