Question 1

What is multi-party computation (MPC) and how does it differ from multi-signature wallets?

Accepted Answer

Multi-party computation (MPC) is a technology that allows secret key shares to be distributed among multiple parties, enabling them to jointly perform computations without revealing individual key shares. This is distinct from multi-signature wallets, where multiple signatures are required to authorize a transaction. In MPC systems, n/n key shares are often required for transaction signing, with the minimum threshold equaling the number of wallet members.

Question 2

What are the major security concerns in multi-party computation?

Accepted Answer

Security concerns within MPC include phishing, where attackers manipulate members into revealing private key shares, vulnerabilities in storing key shares on insecure devices, and potential trade-offs between security and performance. Other concerns include susceptibility to man-in-the-middle or spoofing attacks and specific attack vectors like the "Forget and Forgive Attack."

Question 3

How does the number of members in an MPC system affect its security and performance?

Accepted Answer

The number of members in an MPC system has a trade-off effect on security and performance. Fewer members can make the system more susceptible to attacks, while a larger member base can decrease speed and performance due to waiting times for protocol cycles, increased computational power requirements, and communication latency.

Question 4

How does Multi-Party Computation technology fit into the current landscape of Web3?

Accepted Answer

Multi-Party Computation technology marks a significant advance in operations security involving secrets shared among multiple parties. It's particularly relevant in the crypto sphere and Web3 domain, where an increasing number of companies and organizations require shared asset management across various entities. The cryptographic nature of MPC allows for the secure handling of key shares and has implications for the secure management of digital assets, making it an essential component of the modern blockchain and cryptocurrency landscape.

Connie Lam, Head of Solutions Architect at CertiK

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