PlatON Leverages Strength of MPC to Launch New Digital Asset Custody Services
Thursday, March 21, 2019 11:30 PM
SHANGHAI, CHINA / ACCESSWIRE / March 21, 2019 / World's leading trustless computing network PlatON has launched KeyShard (https://keyshard.platon.network), the new secure, flexible and easy-to-use SaaS solutions to digital asset custody.
KeyShard is another vivid example of PlatON's technological strength. The key technology behind KeyShard is Threshold Signature based on MPC (multi-party computation) by PlatON. The private key is split into different parts and the assets are managed by related parties with a secure multi-party protocol.
''Nowadays there are around 1,500 digital assets with a total value of 150 billion USD. Many financial institutions are looking for business opportunities while seeking compliance'', said Sun Lilin, CEO of PlatON. ''In this context, PlatON is proud to introduce KeyShard and in the meantime, we are also looking for collaborations with industry players to know and use KeyShard services to better safeguard digital assets.''
Prior to the official launch, PlatON has signed strategic partnerships with some of the most renowned blockchain platforms such as HashQuark, Keystore, HashKey Hub to boost the technological advancement and applications of KeyShard services.
The key to digital asset custody is the custody of private key. KeyShard's substantial solution to private key custody enables financial institutions to safeguard digital assets with top security without sacrificing usability. It is designed to tackle the problems of existing custody technologies such as unsecured centralized custody and complicated multi-signature technology.
Mathematically proven secured, KeyShard provides off-chain approval policy with no need for smart contract. KeyShard's flexibility is featured by easy deployment, compatibility with all blockchains and no change of address when refreshing key shares.
As SaaS services, KeyShard offers superior usability. ''Plug and play'' fast deployment will help users achieve the best efficiency and cost-effectiveness. Threshold signature by multiple parties is also available for joint authorizations.
PlatON has launched its first testnet Baleyworld on December 18, 2018. This marks substantial progress towards a total solution to data safety and privacy in almost all walks of life today.
PlatON was founded by a team of experts in both blockchain and cryptography, is determined to solve the two major problems facing today's blockchain technology -Privacy and Scalability. PlatON technology is designed to be the next generation trustless computing network with off-chain privacy-preserving algorithms to enable secure multiparty collaboration.
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