Multichain releases the Multichain MPC 2.0

 

Multichain

Secure Multi-Party Computation (MPC) network is the core technology underpinning Multichain, also the key to Multichain security model and mechanism. MPC 2.0 offers increased speed and enhanced security. With this new feature, their goal is to further enhance the decentralization of Multichain.

To go deeper into understanding MPC 2.0, let’s get started with a short recap of what‘s MPC.


As tracked at Multichain dashboard, now Multichain MPC network is running by 32 nodes, by Multichain team and the community.

Multichain is secured by a network of nodes known as the Secure Multi-Party Computation (SMPC). These nodes are independent entities that can collectively sign transactions. Using a Distributed Key Generation algorithm, each node independently owns part of the private key. The complete set of private keys will never appear, let alone the possibility of being revealed. This avoids single points of failure, ensuring decentralization and security. The SMPC nodes (currently 32) are run by the Multichain team and different organizations, institutions, and individuals.

fastMPC, Strengthened performance, and Enhanced security

To boost their MPC nodes operation and security to the next level, they have developed fastMPC. The team has done rounds of internal and external audits to make sure contracts do not have frequently-occurred and high-risk bugs. Effective measures have also been taken to prevent dishonest nodes.

The improvement in MPC is mainly on two aspects:
  • faster speed. fastMPC performs 4–5 times faster than MPC 1.0, which will contribute to faster and smoother cross-chain solutions and experience.
  • fastMPC will be open to the community and Multichain partners. The testnet is now live. The team is doing the first round of internal testing. The next round will include community testers. We are hoping for your authentic feedback.

They are now entering the final stage of internal testing, and public testing will be open very soon. 

 

 

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