The most popular Web3 trading wallet, Bitget Wallet, unveiled the Multi-Party Computation (MPC) wallet with a combination of user-friendliness and security.

The MPC wallet is based on a privacy computing technology called MPC, or Multi-Party Computation. The requirement to keep private keys in one place is eliminated with the MPC wallet.

Using a distributed key generation mechanism, MPC generates several key shares at different places under the control of different parties. When a transaction requires signing,  the MPC protocol triggers a decentralized and confidential signing procedure that engages the owners of separate private key shares.

Users now have a much easier time getting started thanks to the MPC wallet’s “mnemonic-free” user experience. The challenge of learning and remembering mnemonic phrases and/or private keys is no longer required for users.

This shift emulates the functionality of well-known Web2 products, facilitating a smoother transition for regular users into the Web3 era through product development, technological innovation, and improved user experience.

The news you see on this site are collected from reliable news sites. Therefore, original sources are used as much as possible.