Ruby One V2
  • Ruby One V2 - Your Complete Ruby One Wallet Guide
  • General Introduction
    • Vision of Ruby One
    • What is Ruby One V2?
    • What is MPC technology?
    • Is MPC technology secure?
    • What are the benefits of MPC technology?
  • Why Use Ruby One
    • High-Security Wallet Access Through MPC
    • Contract Accounts for Secure and User-Friendly Blockchain Interaction
    • Third-Party DApp Integration with the Ruby DApp Bridge
    • Bridging the Web2-Web3 Gap
  • Tech Introduction
    • MPC-Secret Sharing
    • MPC-Threshold Signature Scheme
    • Social Recovery - DKIM
    • Contract Account Dynamic Upgrade
    • DApp Bridge
    • Ruby One V2 Upgrade Log
  • How to Use Ruby One V2
    • Launch App
    • Sign Up
    • Login Via Google
    • Login Via Email
    • Set Local Password
    • Backup Key Fragments
    • Three Test Networks
    • Send & Receive Crypto
    • Social Recovery Your Account
    • Sign Out & Clear Data
  • Term of Use
    • Welcome to Ruby Protocol
    • About the Website
    • Intellectual Property
    • Acceptable Use of the Website
    • Wallet Address, Private Key, and Backup Capabilities
    • Accuracy of Information Provided by User
    • Your Use of Ruby’s Services
    • Privacy Policies
    • Disclosure of Information
    • Changes and Availability
    • Contacting us via the Website
    • Age Restriction and Eligibility
    • Disclaimer of Warranty
    • Limitation of Liability
    • Changes to the Terms
    • Contact Us
  • Ruby One - MPC Wallet
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  1. General Introduction

What is MPC technology?

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Last updated 1 year ago

Multi-party computation or MPC or privacy-preserving computation was invented nearly 40 years ago by Chinese . It has been in development for several decades and has only recently entered the digital asset space.

It has evolved from an intellectual curiosity to one of the primary technologies used to secure crypto assets by wallet providers and custodians. It is safe to say it has rapidly gained acceptance as the next generation of private key security.

Multi-party computation, in short and in crypto, is a keyless transaction signing method that replaces the private key with key shares generated independently by multiple non-trusting parties without sharing any data. This means that at any given time, no single party has access to or visibility of the entire key.

Other than cryptocurrency, multi-party computation technology can be applied to other real-world scenarios, such as data analytics and sensitive research involving confidential user data.

As demonstrated in the widely cited video by Boston University, competitive organizations can use MPC technology to collaborate on issues of collective good—without having to share their confidential user data:

computer scientist Andrew Yao