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Firms reconsider custodian partnerships as tech debate over how to secure digital assets escalates
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Quick Take
- Recently, debates over whether multi-party computation (MPC) or multi-signature is more secure in storing private keys intensified
- Several companies have “moved away” from multi-signature adopters like BitGo and Unchained Capital to newer firms that deploy MPC, sources told The Block
- Although some firms think that a combination of MPC and multi-signature is the most secure way to store private keys, others believe that these two cryptographic techniques are a zero-sum game
At first glance it seems like an innocent tech debate over how to securely store cryptocurrencies; the main point of contention being: “is multi-signature or multiple-party computation (MPC) better at securing digital assets?” This nerdiest of turf wars then results in several OTC desks and crypto-native firms shifting away from custodial services using multi-signature, like […]
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