Penta Security Unveils Bank-Level MPC Solution Targeting Digital Asset Management Market
Penta Security, a leading cybersecurity company in Korea, announced the release of its exclusive MPC (Multi-Party Computation) solution that runs on a cryptographic protocol which operates computations based on the consensus of multiple parties. This not only secures transactions, but allows cryptographic keys to be stored and shared safely for the protection of sensitive data.
With a robust signature function that complements vulnerabilities of the existing multi-signature solution, MPC eliminates Single Point of Failure (SPOF) and provides strictest security with a scaled up digital signature mechanism that prevents the outflow of private keys. By leveraging its unique computation process, the solution can also be applied to multiple environments that require multilateral agreements for cryptographically validated consensus processes where high-level security is in great demand.
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Additionally, the solution is available in OpenSDK format for companies committed to testing and developing the solution in an advanced environment. The users are able to enjoy the convenience unencumbered by the existing virtual asset management platforms where technical and economic benefits are diminished by the complexity of environments with a single signature mechanism.
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“Applying MPC to digital asset management and allowing each participant to be independent from the risks is a turning point for those organizations looking to adopt powerful security solutions,” said SangGyoo Sim, CTO of Penta Security. “Penta Security’s MPC solution will not only enhance the overall key management security but make it possible for them to aim towards developing the next-generation MPC-deployed environment as a process of overcoming one of the biggest security challenges in the industry.”
Penta Security recently joined MPC Alliance to unleash innovative solutions through collaborations with industry leaders including Enigma, Fireblocks, Samsung SDS, Unbound tech, and NuCypher.
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