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.
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