PRESS RELEASE. Crypto has a mission, to manifest optimal potential of blockchain and let users gain control of their data, identity and money. Needless to say, security is the most important metric that differentiates the best crypto wallet from others.
In the pursuit of the same, Antier, a leading blockchain consulting firm, has taken a leap over conventional practices and building multiparty computation (MPC) crypto wallets.
MPC wallets are a new and innovative type of wallet that provides enhanced security and privacy for users by distributing the private keys among multiple parties. An MPC wallet uses a single private key that is divided and shared among multiple individuals, in contrast to a multi-sig wallet which requires multiple private keys for transaction validation.
The future of crypto wallets in the making
Also known as threshold wallets, MPC wallets use advanced cryptographic techniques to split the private key of a wallet among multiple parties, making it much more difficult for hackers to steal the funds stored in the wallet.
Here, multiple parties must approve transactions before they can be processed, making it much more difficult for any one party to steal the funds.
This enables multiple parties to access the funds stored in the wallet, making it easier for people to share access to a common fund or account. Not to miss, they support more users than traditional wallets which are mostly single-user thus making them more scalable.
MPC wallets also enable the users to share sensitive information without revealing the full information to any one party, which can help to protect user privacy.
As an experienced entity in this industry for over 7 years now, Antier is well versed with the concerns around lost keys and thus lost wealth. Unsurprisingly, bitcoins worth 100 billion USD became unrecoverable due to private key mismanagement.
“MPC wallets are more resilient to failure than traditional single-user wallets, as the private key is split among multiple parties, ensuring that even if one party’s key is lost, the funds are still accessible.” comments Vikram R Singh, Antier’s CEO., on the fault tolerance capability.
Additionally, MPC wallets are useful in enforcing compliance rules, such as requiring multiple approvals for transactions above a certain threshold, which can help organizations meet regulatory requirements.
As a reputed crypto wallet development company, Antier is enabling their partners in elevating security quotient and addresses one of the most important concerns of this industry.
No wonder, Antier’s experience in building layer-1 blockchain protocols is a testimony of their deep-rooted experience in creating valuable crypto products.
Antier has the expertise required to develop MPC wallets, as well as other blockchain products such as decentralized finance (DeFi) platforms, non-fungible tokens (NFTs), metaverse development, layer-1 blockchain development, and tokenization solutions. The company has a proven track record of delivering cutting-edge solutions to clients in a wide range of industries.
With MPC wallet development, they look forward to disrupting the growing market.
“Our team is highly experienced in a wide range of blockchain products, and we are well-positioned to help our clients navigate the rapidly-evolving blockchain landscape.” Adds Vikram.
At the time of writing this, Antier is a team of 700+ blockchain professionals, making them one of the largest teams in the industry. With 5+ global centres and loads of passion to handpick the graving issues of the crypto industry, Antier is taking a leap over tried & tested services. The consulting firm aims to nourish and produce a pool of blockchain professionals across roles for the web3 industry.
Web3 is here
With its expertise in MPC wallet development, the company is well-positioned to help businesses and individuals secure their digital assets and take advantage of the many benefits of blockchain technology.
Checkout the vast portfolio of blockchain products and services on their website www.antiersolutions.com.
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