Security solutions for digital assets never stop evolving and neither do we. When it comes to security and the quality of our technology, we’re proud to have set an example for the industry since day one. Today, we’re excited to announce our latest custody upgrade: MPC wallets.
What are MPC wallets?
Multi-party computation (MPC) wallets are wallets that allow multiple parties to hold their own private data without ever revealing any of the information held by each party when triggering a transaction.
What this means is that the wallet’s private key, the one used to execute transactions, is split across multiple secure devices. This makes the wallet safer because it is much harder to compromise the entire private key across all devices, which eliminates a single point of failure for all transactions.
Beyond the privacy aspect of fragmenting the private key, accuracy is another aspect that is boosted by MPC wallets. If one or more parties do decide to share their information, this does not mean that others have to as well. There is a strict protocol that must be followed and the MPC will not allow transactions that attempt to force sharing secret information.
How does this affect me?
The good news for you is that this doesn’t affect you at all, apart from sleeping more soundly now that your funds are even more secure.
We’ve tested the MPC wallet infrastructure thoroughly over the last year and already initiated the transition process for wallet addresses. There are no actions needed from user of the SMART VALOR platform.
How does this affect SMART VALOR treasury funds?
Additionally, we have taken the proactive step of relocating the SMART VALOR company funds and the treasury of the VALOR token to secure them better.
Below, you will find the new addresses for each fund:
- Development fund: reserve for long-term development of the SMART VALOR platform - 0x9a6bdefda8ecff06fc83911b6d1a83aaa343b229
- Growth and marketing fund: support of network growth and marketing activities - 0x3f001d6113584bc993e0d9f5176bd918e3eda7b3
- Liquidity fund: improve VALOR liquidity on platforms and exchanges - 0xa567cf9d233389b9d687ea30e59591afe1a03e23
- Unallocated team fund: set up in 2017 to attract and hire the best talent - 0x7Ad65794A53074bbFCc52309845344360714fAf8
These updated wallets will be provided to CoinMarketCap and other platforms and we expect the monitoring and circulating supply to be updated shortly.
At SMART VALOR, our mission is to bring digital assets to as many people as possible. That doesn’t just mean offering people a curated selection of the top assets, it also means providing the best custody solutions give our customers the flexibility to trade and invest without compromising security. We’re excited to offer MPC wallet security on our platform and can’t wait for you to make the most of the new possibilities.