What is MPC Technology?

What is MPC?

Multi-party computation

Multi-Party Computation (MPC) is the most secure cryptographic technology for key management and protection on the blockchain. MPC is the gold standard for institutions and businesses managing cryptocurrency transactions and digital wallets.

MPC is a keyless system that replaces the private key with individual 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 broadcast with a single signature and the signersโ€™ key shares never become public information, or even leave their holderโ€™s domain.

Our MPC Wallet features 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.

Distributed risk and decentralized security minimize the possibility of theft or misuse.

The blockchain agnostic nature of MPC is highly adaptable and easy to scale.

The advanced MPC method reduces transaction size, meaning lower gas and fees.

With MPC-TSS the private key is no longer held by a single point of failure, but we donโ€™t stop there. Our multi-layered security also features a Governance Layer. Create as many custom rules and policies as you want for different situations. Setting up well defined rules ensures that not a single transaction can be executed without the approval of the appointed persons.

Unlike Multi-sig, MPC happens off-chain with only one single signature broadcast on-chain. Itโ€™s data-light meaning it is cheaper and faster to execute, and much more secure. Multi-Sig solutions possess pre-set features, whereas 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.

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My NEO Group Trust - 2023