Top 5 Projects Offering MPC Wallet as a Service
In recent years, the rise of blockchain technology and cryptocurrency has led to an increased demand for secure and efficient digital wallets. One emerging technology that has gained traction in this field is Multi-Party Computation (MPC) wallets. MPC wallets use advanced cryptographic techniques to distribute private keys among multiple parties, providing enhanced security and privacy for users.
As the popularity of MPC wallets continues to grow, more and more projects are offering MPC wallet services to their users. In this article, we will look at the top 5 companies offering MPC wallet as a service, each with their unique features and benefits. Whether you are a cryptocurrency investor or simply interested in the latest developments in blockchain technology, this article will provide you with valuable insights into the world of MPC wallets and the projects that are leading the way in this exciting field.
Unipass is a leading provider of MPC wallets that utilizes MPC algorithms to offer users a high level of security. Its wallet is a type of smart contract wallet that supports on-chain Email social recovery. Unipass allows developers to create a seedless, gasless user experience similar to Web2 users, which can help to increase the conversion rate. UniPass aims to help more people become citizens of Web3 and own a decentralized identity, while maintaining high levels of security and censorship resistance.
The on-chain email social recovery solution provided by UniPass allows users to choose non-Web3 experienced individuals as guardians of their accounts. These guardians can assist with social recovery using only their email accounts. Since the solution is on-chain, there is no need for a third-party server to achieve social recovery.
UniPass Wallet strives to provide a secure and convenient wallet experience that incorporates the latest innovations in the field.
ZenGo is a blockchain-based financial services company that offers a range of MPC-based wallet solutions. It is one of the first cryptocurrency wallets to make use of the advanced security attributes of MPC for a customer wallet. By offering a self-custodial wallet that has no seed phrase vulnerability, ZenGo's security measures are much more reliable than seed phrase wallets, even outperforming hardware wallets by a significant factor. Additionally, the wallet uses biometric authentication, such as facial recognition and fingerprint scanning, to ensure that only authorized users have access to the wallet. Lastly, ZenGo's recovery system, which employs 3FA (three-factor authentication), enables you to retrieve your shares and gain access to your wallet when transferring your account to a new device. With this approach, you can recover your wallet quickly by verifying your email address, authenticating using 3D FaceLock, and decrypting the encrypted Personal Share on your device, restoring complete access to your account.
Fireblocks is a secure digital asset platform that offers a range of MPC-based wallet solutions. Fireblocks' MPC wallet uses advanced cryptography to securely store private keys across multiple parties. The wallet is designed for institutional-level applications, such as exchanges, custodians, and other financial services providers. One of the key advantages of Fireblocks' MPC wallet is its multi-layer security. By integrating MPC-CMP technology with hardware isolation, Fireblocks has developed a multi-layered security technology. This technology eliminates the possibility of a single point of failure, providing protection to digital assets from cyber-attacks, human error, and internal collusion. Through this approach, Fireblocks has insulated digital assets, making it nearly impossible for them to be compromised by any malicious activity or errors. Furthermore, Fireblocks also offer fast operation speed & flexibility. The MPC-CMP algorithm ensures that client service level agreements (SLAs) are met, irrespective of the wallet configuration. This algorithm improves transaction signing speed by 8x, enabling swift access to funds. Also, the MPC-CMP technology allows for customized wallet temperature settings, which include hot, cold, and warm wallets. This feature provides flexibility in meeting clients' needs while ensuring the security of their digital assets.
Qredo Wallet is a secure and efficient web application that facilitates digital asset portfolio management. It provides institutional-grade security for cryptocurrency storage and enables immediate peer-to-peer transfers and cross-chain swaps. The Qredo Wallet is designed to scale and allows users to manage access to digital assets across trusted parties, teams, or organizations using straightforward yet powerful roles and access rights.
The Qredo Wallet's Funds feature allows users to manage collections of digital assets, such as a trading account, and customize governance rules while monitoring transaction activity. Users have complete visibility over their transactions, allowing them to review pending and approved payment authorizations. They can also establish a Trusted Party network of counterparties with whom they can safely and conveniently transact at all times.
In summary, Qredo Wallet is a highly secure platform that empowers users with complete control over their digital assets. It offers safe storage, quick and seamless transfers, and cross-chain swaps.
Orosign is a leading provider of MPC wallets that offer users a high level of security for digital assets. Orosign's MPC wallet is designed to be user-friendly and customizable, with advanced security features to ensure the safety of your digital assets. It also can accommodate several blockchains, and enable secure and uncomplicated cross-chain transactions by incorporating zkBridge technology. One of the competitive advantages of Orosign is the ZeroKey solution, which is the first MPC threshold signature on mobile ever, possessing the high security level and flexibility similar to that of hot and cold wallets. Another advantage of Orosign is that it uses Distributed Key Generation in the MPC process to generate shares without revealing secret keys and perform signing without reconstructing the private key, which ultimately ensure the security for users. Also, Orosign offers an user-friendly UI/UX with biometric authentication, gasless signature based on off-chain ECDSA proofs and can be utilized by both individuals and institutions.
Below is a comparison table of top 5 companies offering MPC wallet as a service:
In conclusion, MPC wallets offer a high level of security for cryptocurrency storage, and the aforementioned projects offer some of the best MPC wallet services in the market. Whether you are an individual user or a business, these MPC wallet providers offer advanced security features, multi-asset support, customizable design, and user-friendly interfaces. Choosing the right MPC wallet provider is crucial for the security of your digital assets, and these top 5 projects are a great place to start.
About Orochi Network
Orochi Network is a cutting-edge zkOS (An operating system based on zero-knowledge proof) designed to tackle the challenges of computation limitation, data correctness, and data availability in the Web3 industry. With the well-rounded solutions for Web3 Applications, Orochi Network omits the current performance-related barriers and makes ways for more comprehensive dApps hence, becoming the backbone of Web3's infrastructure landscape.
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