Extremely fascinating power point presentation given by MIT Economics professors to the Bank of Brazil about the uses, benefits, costs of CBDCs and the technology behind them. Super interesting read, highly recommend to anyone interested in what a CBDC would look like.
They’re a nice platform that do things a little differently from many others. Segregated client accounts. Intelligent MPC wallets with FireBlocks. Easy access to realistic and risk assessed DeFi if you choose to. Probably the most transparent fees structure I’ve ever come across. Still over $500m AUM in this market, so doing ok. If anything they can be charged with being too transparent and risk adverse. As shown here, sometimes it makes customers irritated. And with offering realistic yields vs the others (lending platforms, not the same) Anyhoo. Clearly come bull time they need to market in your territory!
Looking for me? Here I am. >Nillion, an internet infrastructure platform based on cryptography, has developed a technology called Nil Message Compute (NMC), which changes how data is stored, processed and decentralized. This new technology could have important implications for how companies and users pursue decentralization as an ethos. >When asked how decentralization without blockchains was possible, Nillion CEO Alex Page explained how NMC-basedtechnology takes arbitrary data, transforms and fragments it, and then distributes the resulting particles across a network of nodes. >“The nodes can store the particles or run computations with the fragments of data without sending messages between themselves, and return the results to the desired end-point for reconstruction (without relying on trusted hardware)," Page explained to Cointelegraph. “Throughout the whole process, nodes are blind to whatever they are processing, yet are able to run computations at speeds that in many cases are significantly faster than its predecessor technology, \[multi-party computation, or MPC\].”
>they have 2 million bitcoin That's just custody in MPC and multisigs for institutions and funds including GBTC which is alone 635k bitcoin. That is not exchange balance. Coinbase the exchange is not comparable to the flows Binance handlers.
All this tells you is that because they run a permissioned chain less people potentially have access. There is nothing technical about that solution and its not a solution to actual permissionless networks. Actual solutions are forward secrecy, key rotation and MPC. Something that is both close and/or oj the roadmap for Secret atleast. There are lessons to learn here but just denying access to the network is not one of those imo.
Dont think so personally at all. Secret was never about hiding transactional data but about providing a private state to be used in smart contract computation. If people want to do p2p private txs they should use monero. Secret is the only computational privacy chain on mainnet providing usecases no other blockchain can while being front running resistant and providing defi safety like sealed auctions and hidden liquidation points. This all is still possible only on secret. This bug was never exploited and wont reduce these usecases really. The chain remains private in production and improvements already announced will bring MPC and key rotation to make SGX bot a single point of failure. We all wish a fsst 100% peivate network existed. Sadly it doesnt. Secret chose a pragmatic solution and has iterates on its security for years and will prob do so in the future. I dont think this whole ordeal changes much about that. We can interact on secret via contracts without others seeing our details, thats the exact usecase that still holds true.
Not really, but reasonably close I guess. They don't have liabilities, they are not an exchange. They utilise MPC segregated wallets so not only are user funds not utilised by the company, but rather, it is set up in a way which makes even the temptation pointless since it's impossible. If Bitpanda was more secure than SwissBorg, then it'd be the former winning all the relevant awards in the awards in the blockchain space, rather than the latter. SwissBorg is a crypto wealth app. Bitpanda is a poor man's Revolut. Big difference.
tldr; The Bank of England has raised interest rates by the highest rate in 33 years. The Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase interest rates to 3%. The UK recorded 10.1% inflation in October, the second time in three months. The MPC predicts inflation will fall sharply from the middle of 2023. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Thematics now launched on SwissBorg, an auto rebalanced allocation into themed basket of cryptos. The first thematic launched is web3 with a basket of 13 cryptos, next auto rebalancing is in 5 days. If eligible to join in your jurisdiction it's well worth checking out SwissBorg is technically a CEX but uses MPC secured segregated user accounts. The yields are dynamic and realistic, with a range of risk offerings to suit all needs. They also have XBorg an esports team that also offers exclusive opportunities to invest in seed rounds. There is also SwissBorg ventures, your own personally curatable hedge fund. This is only available to the most loyal OG investors atm but will open up in a staggered approach. Don't take my word for it however. Check out their Netflix quality YT channel where they host weekly community roundups and interviews with devs and other serious actors behind the scenes in the cryptosphere
tldr; Facebook owner Meta has joined the MPC Alliance, a non-profit group focused on cryptographic privacy and security, according to a press release. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
So i would ignore the "scattered around the world" for now. My understanding is that they use mpc with a third party they trust. That third party is probably the one providing the wallets to customers. Companies typically do this for scalability reasons. Rather than maintaining the infrastructure themselves (typically just BTC), some are now relyingg on a third party that allows them not only to provide BTC wallets to customers, but easily other coins and stable coins. So the problem here would be "oh, this third party owns my crypto.. What if they are compromised or whatever" : with MPC, every single transaction needs to be signed by the two parties - the 3rd party xapo is using, and xapo themselves. So technically, this third party cannot just wake up one day and leave with their money. Lastly, on the "cold storage of key material" typically means that, while there's a trust relationship between both when it xomes to signing transactions, they may also have some sort of master key that allows them to still retrieve funds in case this third party fucks off. Those "keys" seem to in some cold storage bank-grade class iii vaults in various locations. Again, this is a common practice to not store such a important key in a single location (in case of war, catastrophic scenarios, politics or something that would prevent them to access that location when shit its the fan)
That is probably an old documentary. You can read in their website that they use multisig now `Xapo will always be committed to safekeeping our members' funds. Our self-custody crypto solution relies on state of the art Multi-Party Computing (MPC) "keyless" wallets, whose signing shares are managed by Xapo as well as a trusted SOC2 Type II compliant third party. They are secured using Hardware Security Modules (HSM) devices and we employ strict controls and access rights to both the assets and supporting infrastructure. Cold storage of key material is supported by bank-grade Class III vaults in geographically dispersed locations.` The cold storage key material bit is for their own keys as they are the owners of their wallets instead of just relying on a third party for that
Oh wow, I'm jelly of your Genesis! Yeah been adding some good new tokens e.g. ALGO, ADA, did an exclusive partnership with Sweatcoin, and have released a whole bunch of new yield offerings, with VC opportunities coming soon. It still hasn't suffered any sort of exploit or smart contract issue, their MPC segregated accounts and smart contract auditing is standing up to scrutiny. Given everyone on Celsius and others have been critical of it because it's yields weren't quite as good as the market dropped off, it's performing very well imo. I'd rather earn a slightly lower yield and have more peace of mind about the security of my assets tbh, never quite 'got' all the criticism receieved. Come back... one of us one of us one of us... ;-)
Swissborg is best in safety. Nothing compares to it. Completely separated funds, bankruptcy safe funds, extremely high safety standards in technological aspects (e.g. MPC). The only other exchange that is reputable and behaves professional even in bear markets is FTX. Everything else has certain risky aspects. Even Binance.
Nash.io for real Bitcoin trading. ERC 20 Uniswap 1inch Polygon. 1c trades. No minimum trade like Binance force you to spend $10 as they lost 90 percent of customers after forcing KYC. Non custodial, MPC tech. Safest non custodial wallet in crypto😎 Far safer than trust wallet, at Nash you can set up blocks for withdrawals trade's etc. https://arxiv.org/abs/2106.10972
Because "Coinbase moved collateral to new address" is not newsworthy. AFAIK Bitinfocharts only uses the address tags for cold storage addresses publicly claimed by exchanges. Exchanges have other addresses too for collateral, hot wallets etc. Unlike cold storage address, these addresses will be very active with lots of ins and outs and they change them from time to time for security. Pretty much all the big wallets are exchanges. I seriously doubt that MSTR corporate treasury is just a single address. It's probably multiple MPC set ups. I have to say Coinbase still using P2PKH is sad.
Multi-party computation is "available" for Bitcoin in the sense that it is a technique that works on any blockchain since it requires no special features. I'm not familiar with any software that actually uses it. I wouldn't recommend MPC over multisig on Bitcoin since the latter is so well supported. Multi-party computation seems to be mostly one of those buzzwords that venture capitalists and altcoin marketing departments like to throw around. It sounds newer and flashier than multisig. It actually does have some advantages over multisig: * You can make changes to the quorum of keys without a blockchain transaction. * Theoretically it might improve privacy since nothing can be inferred about the signers from transactions, although I would argue the same level of privacy can be achieved with multisig by simply not reusing keys. But multisig is battle tested and, like I said earlier, well-supported on Bitcoin. The potential benefits of MPC are not interesting enough to me to make me want to use it over multisig. Maybe in the future if it becomes better-supported.
Highlights: - StarkNet is preparing for a Regenesis on mainnet. What does this mean? StarkNet accumulated a lot of dead weight in terms of deprecated/outdated features. To shed this dead weight, a regensis will be necessary. That means wiping all of the history on StarkNet. The good news: It will be as easy as possible to port the existing history over to the new StarkNet instance. For more details, read through the linked blog post StarkWare put out. - ZigZag announcing InvisibL3, a Layer 3 for private transactions. I can not stress enough how excited I am for initiatives like these. Instead of dealing with the rather complicated-to-use Tornado.cash or similar dApps, you will be able to transact and exchange tokens and coins privately on L3, without the horrendous gas fees as well. - Bulletproofs are now on Cairo. Bulletproofs are a zero knowledge proof system which allow for short inner product, range, shuffle, and arithmetic circuit proofs. Bulletproofs also support faster MPC protocols. - AAVE StarkNet deployment moves along. Phase 1 has concluded. There was a vote for Part 2 of Phase 1, which has passed two days ago with 0 votes against. This proposal was about unlocking funds from the AAVE DAO to cover the costs of deploying on StarkNet. - StarkNet community Call #18 - The Nethermind team that is building Solidity -> Cairo transpiler Warp were attending and walking us through Warp. - The MatchboxDAO hackathon concludes. 1 day left to submit your code, video, and documentation. Winners to be announced next Sunday (1 week from now). Over 50 teams have participated. - Over 440 ETH have been bridged so far (there's a cap). - Lots of useful links, articles & dev resources as usual! Make sure to check out the full post linked above. Thanks for reading, and I'll see you guys again next week!
My concern for them is that they were so vehemently set on this belief that they may have seriously overexposed themselves to Celsius' issues. I know from highly reputable penetration tests and from audits that SB has at least 2 years of capital to ride the storm, and the way the platform operates ought to generate another years worth of revenue during that 2 year storm. Funds are entirely segregated from company accounts independently locked under Fireblocks MPC wallet tech. Whilst it's not 100% safe and anything can happen, I did try to warn the individual that SB offers are pretty high industry standard of security and that they should possibly think twice about moving everything to Celsius. BTC maxi in cold storage is obviously the pinnacle safety approach but if this isn't conducive to the individual then a 'spread betting' approach is essential, knowing you're likely sacrificing some of your capital for other streams to survive/thrive.
> I am inclined to believe your and your bankers' words and good intentions, but what about the next set, or the next? Humans are corruptable, if not through greed than blackmail and intimidation; it's unethical to trust entire economies on someone's good intentions. Yep, these are valid concerns. This is why these protections are enforced cryptographically to the extent possible, relying on distributed trust only when state-of-the-art crypto just isn't up to snuff (or there's an obvious impossibility result in the way). It's not perfect, but it is what it is. > What the central banks are trying to do is too complex to be pulled off, and the tools they require are unacceptably disruptive and easy to abuse. Sure. I am no economist and I won't pretend to be. My point was merely that governments and central bank folks will resist suggestions that they should surrender their ability to try to influence these things. > And, I'm not convinced that deflation was the cause of the Great Depression, or that that kind of deflation is the same as having a hard cap on money supply. I didn't mean to suggest that it was the cause. But economic theory suggests that it is what you should expect. Central banks target 2% inflation for a reason: It incentivizes economic activity. We all hate billionaires. Imagine if the selfish thing to Elon Musk to do was to fire all of his employees, quit investing in R&D, and hodl al his money in a big vault. In a deflationary economy, that would be the only risk-free way for him to ensure that his net worth continues to grow relative to the rest of us. In an inflationary economy, he is forced to invest -- in labour, in R&D, in other companies, etc. -- or else his wealth will slowly dwindle away. You already see people who are worried they will never be able to retire and yet are buying Bitcoin for their kids. Why buy Bitcoin for your kids? Well, if Bitcoin ever becomes the world's currency, it is entirely possible that by the time today's kids grow up, all essentially wealth will be generational wealth. So better start building that generational wealth before it is too late. > Also, curious what you guys come up with. How much of it will be open source or published in some form? A few of the cryptographic primitives I've developed for this project are already published. My "day job" centers around digital liberties and privacy-enhancing technologies, and these tools were all generally useful and not just building blocks for a CBDC. So the publications frame them as tools for censorship circumvention and/or theoretical ZKP constructions and/or new primitives for scalable MPC, without any mention of CBDC applications. And since I am a cryptographer first and a software developer... err, third, very little of my code is likely to ever see deployment in a CBDC, even if the bank ultimately decides to role out something based on my design. At best, some of my low-level crypto code will be in here. And this is all already incorporated into open-source projects, albeit with no obvious signs that it was motivated by/developed for CBDC applications. With that said, my understanding is that the bank ultimately intends to release a full open-source reference implementation of whatever they ultimately roll out, assuming they do ultimately roll something out. As of now, they have not "officially" decided to roll out a CBDC at all, and are currently just exploring what is possible.
You hit the nail on the head. The design we've been working on goes out of its way to ensure that *most* legitimate---I know, I know...the idea of legitimate lawful access is blasphemous on this sub---enforcement activities can happen without actually revealing your data. Instead it uses ZKPs and/or MPC to ask specific questions of the data while revealing nothing beyond the (typically boolean) answer to those queries. And no party can just asked whatever they want; several independent entities would need to be on board. For example, you merely prove that your transactions do not violate any CTF laws as a prerequisite for them being accepted -- without revealing any other details. In cases where authorities decide it is necessary to "break the glass" to freeze an account or something, we try to force transparency by ensuring that a prerequisite to this happening is the publication of on a blockchain of (a cryptographic commitment to) the lawful order. This is admittedly a weak point in the design. If the right set of people decide to bypass this transparency mechanism, they can collude to do so. In parallel work, we've been developing workarounds for this that make it infeasible to freeze accounts without broadcasting this fact to the entire world, but that's my own pet project and not something the bank asked for. It would have to be a value-added service that some financial services provider adds to the scheme, as its more computationally costly than the central bank would prefer (and the central bank is less distrustful of themselves than people on this sub are). But, yes, the inability to perform mass surveillance -- at least covertly -- is a prerequisite for any money system in my view, and is in fact my biggest concern with existing cryptocurrencies including Bitcoin.
tldr; Robinhood has announced plans to roll out a Web 3.0 wallet to cater for its growing DeFi community. The wallet will offer a similar utility to that of Metamask, enabling users to stake, lend, buy NFTs and participate in yield farms. Meanwhile, Coinbase recently introduced a multi-party computation wallet (MPC). *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Partisia is a Layer 1 network claiming to solve the trilemma with ZK privacy, sharding for scalability, and an MPC collateralized bridge. The network offers native layer-1 and layer-2 solutions with no need for external third-party projects to improve security and scalability. The new blockchain has recently announced a partnership with Polygon. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Oasis Network supports a wide range of secure computing technologies such as TEE, MPC, ZKP, FHE. One of the reasons we use TEE is because of its scalability. As secure computing technologies continue to evolve, we’ll adapt accordingly as well.
Sure! Basically, FLUID was created to disrupt these inefficient and opaque virtual asset liquidity providers with a blockchain-based frictionless solution that replicates institutional level liquidity aggregation in the global FX markets by using best-in-class MPC wallet overlaid with blockchain technology. You should DYOR as always.
This is actually really cool- MPC wallets and social recovery wallets are probably how most people will be onboarded to crypto in the future. No fiddling around with dumb key phrases and hiding pieces of paper in various locations. I haven't been too impressed with Coinbase lately due to their NFT marketplace flop and general laziness towards supporting rollup withdrawals, but this is a really big step forward.
I was asked by an old colleague to respond to your post because I came up with the term covenant as applied Bitcoin. > does bip 119 completely mess the fungibility of bitcoin. If the idea of covenants is that you can create bitcoin that can only be sent to certain addresses, doesnt that make two classes of bitcoin? No. That's disinformation which, ironically, appears to be created and promoted by the creator of BIP119 as a strawman. You're only paid in bitcoin if their payment exactly specifies the terms determined by your address. If they do, then the funds are yours free and clear (or otherwise covered by terms you agree to), if they don't you'll never see the payment at all. For example, imagine I owe you money. Well it's possible for me to go dig a hole in my back yard put some money in a tupperware container marked "TO: Ok_Aerie3546" and bury it up. Has the fungibility of the dollar been compromised because I stashed some under unreasonable conditions? No: You just haven't been paid! The author has also promoted some conspiracy theories about "KYC bitcoin"-- like that people might be coerced into accepting encumbered bitcoins that could only be spent with government approved counter-parties as a transparent excuse for the gratuitous limitations of 119, but this too is obvious nonsense: If someone wanted to attempt that plain old multisignature would suffice to accomplish that (and because MPC ECDSA exists, it couldn't be blocked even if multisig were blocked in bitcoin!). What prevents that is that people won't accept it, and anyone trying to impose it on you when they owe you funds would be guilty of theft, plain and simple. (and you can wag your arms and say 'but what if a government tries to engage in theft' -- well that's always a possibility: they have the tanks and jails, after all). I think BIP119 is a poor proposal being pushed through in an ill advised way, but I think the concern you're raising isn't a legitimate one.
Wouldn't trust Binance or BSC with custody, whilst I have nothing against Cz both are generally shark pools at best cesspits at worst. I enjoy not being spammed by scammed and do not ever intend to participate in the almost mandatory telegram groups. Lido I don't know enough about to trust, haven't done enough DD. Nexo I've used the most, without fault to date. Yet to have their insurance and licensing tested. Celsius got hacked, but seem to have reacted OK and bounced back fairly well. Used it a far amount, no huge complaints. I like any non cold storage non custodial options to be MPC and have good experience with SwissBorg. Again, any potential risks have yet to be tested, and I like how they operate generally, with security and regulatory compliance at the forefront. Otherwise, something like Atomic as I don't really care about paying a slightly high premium for decentralised p2p.
Private key based wallets should never use icloud or any cloud back up. But this is a flaw by design. MultiSig and MPC wallets are perfectly equipped for iCloud back up because even if your icloud is compromised your account cannot be taken over ZenGo for example is such wallets. We put $100 in 2 wallets so you can see the difference. maybe you can get one of them ​ https://zengo.com/demystifying-icloud-security-and-wallets/
Thanks for sharing this thoughtful idea here. By the way I'm using a self-custodial web wallet that got a MPC fragmented key technology that offer a full stack of security on the blockchain through the multi-signature wallet function that helps with key management algorithms against unauthorized access to my crypto asset.
Yes sir, not even on just my crypto assets but projects. Found out about Venice Finance and I'm SUPER bullish on this project that includes Bulletproofs which they are developing, turbo plonks and MPC to encrypt smart contracts
Karken is cool and all but, I would rather use a decentralized exchange like Venice Finance, which uses Advanced cryptography algorithms including Bulletproofs, Turbo-PLONK, MPC, etc. to encrypt smart contract inputs and front-running resistance and full anonymity to protect users from value extracting players.
Which is why we need better privacy protocols, especially for decentralized exchanges. I came across a privacy centric exchange that is putting all their resources towards a frictionless and trustless liquidity inter-ecosystem without revealing their position or identity. Working with bulletproofs, turbo plonks, MPC among other things to encrypt smart contract inputs. They're getting better
Of course it is, traditional finance is on its way out. Of course it isn't going to happen tomorrow but we're on our way there. Security and Privacy are peoples main concerns but their are dapps like Venice Finance that are trying to change this, using Advanced cryptography algorithms including Bulletproofs, Turbo-PLONK, MPC, etc. to encrypt smart contract inputs.
ECB now saying they can't rule out stagflation as a result of the war. Economist's nightmare, remember studying this at uni (last happened in the 70s in the west) and thinking thank fuck we don't have to deal with this now. All of the monetary and fiscal policy tools available to deal with rampant inflation harm economic growth. Most of the tools available to deal with recession/stagnation economic growth are inflationary. Pray for the FED, MPC and ECB. They are fucked.
I'll have to check that exchange out, recently I have been super invested into Venice Finance which has advanced cryptography algorithms including Bulletproofs, Turbo-PLONK, MPC, etc. to encrypt smart contract inputs. Allows you to make transactions without revealing your location or identity
I like what the Partisia Co-founder said “Interoperability via token bridges exhibits immense potential to become a main value creator in the blockchain ecosystem. However, as we saw in the Wormhole exploit, moving tokens outside of their established security model poses significant challenges and vulnerabilities. Our answer is more sophisticated, proven audit principles and large scale MPC security measures.”
Smart contracts are the base of decentralized finance. Using advance cryptography algorithms for example how Venice Finance uses bullet proofs, turbo plonks and MPC to encrypt smart contract inputs is what people want when it comes to looking at new dexs to use.
One thing you could consider is that not all CEXs are equal. For example. Binance is custodial, whereas SwissBorg is not. Whilst SwissBorg has a centralised app and a team that ensure its functionality, it uses non custodial MPC wallets. Plus, SwissBorg isn't really a CEX because their smart engine connects to around 8 different exchanges such as Kraken, and executes a trade at the best price against them all - it is more of an exchange aggregator, similar to 1inch, except its an under the hood feature of the app as opposed to its entire use case. Other than that, pretty good job, well done.
SwissBorg Wealth App is the best fiat on and off ramp for EU and UK users imo. It's on Android and iOS. If using your vpn properly it shouldn't really matter what you use. Technically, you shouldnt use CFD platforms, that is, anything that allows margin trading with leverage, since the UK government legislated that people shouldn't be allowed to take such risks. However, the liability falls on the platform, and you have a vpn. Nexo, Celsius, Aave, maker, curve, yearn finance are all worth checking out. 1inch is a DeFi compare the market style aggregator so use that to get an idea of the best option for whatever the asset of concern is. SwissBorg has in built non custodial MPC wallets, various crypto yields, EU license and insurance pools. It also has a smart engine that finds the best execution price across various exchanges. Some of its APY can be low but this is the tradeoff for security. NEXO is similar in many ways (licensed, insured, over collateralised) with decent yields but require 3 month lockins, whereas SB is unlockable within any 24 hour window.
SwissBorg Wealth App: a Non-custodial exchange that uses MPC tech, is EU licensed, has insurance pools for its yields etc. and has Apple quality tech & Netflix quality media production. Community centric democratic wealth management.
That's a brilliant take considering you aren't educated! Yes the big argument at the moment is how much inflation is "core inflation" and how much is transitory/seasonal inflation. The last thing the FED (or the MPC here in the UK) want to do is raise rates sharply if they believe inflation is transitory. The risk being that if they don't act fast enough and inflation continues to act way above target then this could have very bad consequences indeed. All levers like rate rises are lagged - they take time for the effect to be felt by the economy. 2008 crash wasn't helped by govts slowing increasing rates when in retrospect more drastic action was needed to cool the overheating market. Will be really interesting to see what the FED and MPC now next, we've got our monthly rate setting meeting next week.
That's a great sign you are still early, maybe check Twitter a little bit and see the threads on Qredo. Essentially Qredo is a L2 blockchain with MPC technology, (multi-party computation) which allows institutions to enter crypto and much more If you want to learn more go on Twitter and type in "qredo thread"
> In theory, a sufficiently powerful quantum computer could derive the private key. Or a simple error in nonce selection. Or an attacker chosen plaintext signature. Or a single timing attack, depending on the signer impl. Or any one of the attacks on collaborative signatures and MPC schemes which can result in a single key compromise. Its not really any harder to sum a list of coins to form a balance when they have different address than when they are all the same. Reusing the address is a purely shit design decision with no upside, imo. Even if you are using a TSS or MPC scheme, there is plenty of benefit from not exercising the same private key function for every single coin.
Be sure to research what kind of wallet(S) are most suited to your needs in order to ensure optimal security / convenience balance. Cold wallets (digital, paper, metal etc) and hot wallets (Web, MPC etc) all have advantages and disadvantages.