Multi Party Computation

MPC is a set of cryptographic methods and algorithms that allow multiple parties to participate in the same computation without sharing any sensitive information with each other in the process. This is achieved through using partial shares of the original information (i.e. private key), each of these shares held by a corresponding node. Nodes then interact with each other, making secure computations with their shares, learning nothing in the process but the total outcome of the procedure.

One of the most practical examples of MPC are threshold signature schemes that allow secure distribution of digital signature rights between multiple parties. These parties could be computational nodes, distributed servers or data centers or even multiple people who manage the same account. MPC makes sure that only a set subgroup (for example, any 3 parties out of total 5 shareholders) can sign a transaction and have no way to steal any information about other party’s share of this key.

We offer an out-of-the-box solution to create a new crypto wallet, which doesn’t have a singular private key. Instead, the key is split into shares, which cannot be used on their own and only in a group of given size. The key is never assembled in one place during any of the computations, but the technology still allows signing transactions without any trouble. And the private key to your wallet is as secure as it ever could be.

When you first set up the MPC environment, which consists of a communication server and as many computational nodes as you would like, the nodes create their own shares which act as parts of a single private key. You only have to specify how many nodes you want to be able to sign your transactions and how many will serve as a backup (i.e. you create 10 nodes and signing only requires any 6 of them to participate). Then you just send your transaction to the communication server and in return get a signed transaction using shared private key.