This report updates on what AMIS, Coinbase Crypto Community Fund grant recipient, has been working on over the first part of their year-long Crypto development grant. This specifically covers their work on hierarchical threshold signature.
AMIS is a financial technology company creating bonds between traditional and decentralized worlds. We provide security and accessibility for blockchains as well as for cryptocurrencies. With us, our customers can manage blockchain technology with ease and confidence.
Distributed computing in computer science focuses on achieving the common purpose by a system having separate components, which are connecting, interacting, and conveying messages to each other. Multi-Party Computation (abbrev. MPC) makes sure the desired tasks are executed securely in a distributed system to prevent malicious entities. Many malicious entities steal the inputs of all components in the system or induce to deviate the correct results for their own purposes. Therefore, any secure protocols of MPC require the following two properties:
- Privacy: Each party should not learn anything more than its prescribed output.
- Correctness: Each party is guaranteed the correct output.
In the world of blockchain, the possession of private keys is the control of your assets. How do you protect your private key? A natural answer is that you entrust professional custodial service to manage private keys. However, it is easy to become the target of hackers. On the other hand, if users hold private keys, it is very likely to be stolen by adversaries due to weak awareness of information…