Improved security
MPC wallets manage private keys in a distributed manner and employ a mechanism whereby multiple parties cooperate to perform calculations, so that even if part of a key is leaked, the entire key will not be exposed. This reduces the risk of a single private key being stolen and provides stronger security than conventional wallets.
Elimination of Single Point of Failure <br data-mce-fragment="1">Traditional wallets are vulnerable to the loss or theft of private keys, but MPC wallets involve multiple parties in protecting private keys, so there is no risk of losing assets due to a single failure. This gives users peace of mind in managing their assets.
High availability and backup capabilities
Since multiple parties hold separate private keys in the MPC wallet, if one party becomes inaccessible, the other parties can assist in restoration. This ensures high availability, with uninterrupted access to the wallet.
Flexible Access Management
MPC wallets are also useful when a company or organization wants to share management authority of a wallet among multiple members. It allows operations like multi-sig, where multiple signatures are required to access the wallet, and risk can be minimized by distributing authority.
Convenience of operation <br data-mce-fragment="1">Because users do not need to directly manage their private keys, even users who are not familiar with technology can use the wallet safely and easily. This creates an environment where general users can easily access the management and trading of crypto assets.
Regulatory Compliance and Support <br data-mce-fragment="1">Some companies and institutions require asset management based on security standards and regulations. MPC Wallet provides robust security and auditable processes, helping to support wallet management in compliance with regulations.