Bitget Upgrades Platform Wallets with MPC Security Technology
Press release
Victoria, Seychelles, 26 January 2023 — Bitget, the world's leading
cryptocurrency exchange and Web3 company, announces a significant enhancement to its platform wallet security with the upgrade of Multi-Party Computation (MPC) technology, which means that Bitget upgraded all users' wallet addresses to MPC addresses. This strategic update exemplifies Bitget's unwavering dedication to user security, incorporating cutting-edge technologies such as the Threshold Signature Scheme (TSS) and Trusted Execution Environment (TEE) to set new industry standards.
Bitget's MPC wallet addresses introduce a paradigm shift in security standards by leveraging the following cutting-edge advancements:
1.
Distributed Computing:
The implementation of multi-party distributed computing eliminates the risk of a single point of failure, fortifying the overall resilience of the wallet.
2. Homomorphic Encryption: Through this innovative encryption technique, Bitget ensures secure transactions without exposing private keys, providing an extra layer of confidentiality.
3. Trusted Execution Environment (TEE): Bitget's MPC wallet is fortified by TEE, bolstering hardware security and instilling user confidence in the safety of their digital assets.
Aside from the above, Bitget's commitment to security extends to the generation and signing of transactions:
-
Secure Key Generation: Distributed key generation ensures the safe and dispersed creation of private key shares. This approach safeguards against single-point failure, enhancing the overall robustness of the wallet.
-
Collaborative Signature Protocol: The platform employs a distributed collaborative signature protocol during the signature stage, preventing the leakage or aggregation of multiple private key shares. Homomorphic encryption technology further fortifies this process, occurring within a trusted execution environment (TEE) without revealing the complete private key.
Gracy Chen, Managing Director at Bitget expressed, "Security is a paramount element in a cryptocurrency company, and Bitget remains at the forefront of adopting innovative technologies to fortify our users' assets. The upgrade of MPC technology into our wallet is a testament to our commitment to providing a secure and reliable platform. Users can trust Bitget to continue implementing state-of-art solutions that prioritize their safety."
This announcement follows a successful implementation of Bitget's ongoing commitment to security. Previously, Bitget Wallet also unveiled the MPC upgrade, enhancing security measures and introducing users to the benefits of cutting-edge cryptographic technologies. The MPC Wallet empowers users with added layers of protection, securing their digital assets in a continuously evolving threat landscape.
About Bitget
Established in 2018,
Bitget is the world's leading
cryptocurrency exchange and web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features, including wallet functionality, swap, NFT
Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel
Messi and official eSports events organizer PGL.
For media inquiries, please contact: [email protected]
2024-01-26
Become a trader now?A welcome pack worth 6200 USDT for new Bitgetters!
Sign up nowRecommended
- Press releaseBitget Becomes the First Exchange to Support VND Bank Transfer via VietQR November 22, 2024 – Singapore – Bitget, the leading cryptocurrency exchange and Web3 company, has announced its integration of Vietnamese Dong (VND) transfer through VietQR, making it the first cryptocurrency exchange to adopt this groundbreaking payment method. The integration simplifies access to the crypto market, removing traditional barriers and ensuring a seamless experience for its users. VietQR is a standardized QR code system desi2024-11-22
- Press releaseBitget Introduces TON-based MEMEFI (MEMEFI) Token with Over 35 Million Tokens in Promotions Victoria, Seychelles 22ndNovember 2024 — Bitget, the leading cryptocurrency exchange and Web3 company, has listed MEMEFI (MEMEFI) in its Innovation and TON Ecosystem Zone, with trading commencing on November 22, 2024, at 13:00 UTC. Deposits are currently open, and withdrawals will be available starting November 23, 2024, at 14:00 UTC. The MEMEFI/USDT trading pair can be accessed via the provided spot trading link. To celebrate this listing, Bitget has organized several promotional activitie2024-11-22
- Press releaseBitget adds Zircuit to its Launchpool with 9,125,000 ZRC tokens in RewardsVictoria, Seychelles 22nd November 2024 — Bitget, the leading cryptocurrency exchange and Web3 company is set to enhance its ecosystem by listing Zircuit (ZRC), a cutting-edge project powered by zero-knowledge rollup technology. The listing will be available in the Innovation, Layer 2, and ZK Zone, further broadening Bitget’s support for innovative blockchain solutions. Trading for ZRC/USDT will commence on November 25, 2024, at 10:00 UTC, accompanied by deposit and withdrawal functionalities to2024-11-22
We offer all of your favorite coins!
Buy, hold, and sell popular cryptocurrencies such as BTC, ETH, SOL, DOGE, SHIB, PEPE, the list goes on. Register and trade to receive a 6200 USDT new user gift package!
Trade nowBecome a trader now?A welcome pack worth 6200 USDT for new Bitgetters!
Sign up now