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FAQ
What is an MPC Wallet？
MPC wallet employs multi-party computing (MPC) technology to realize encryption and co-management of private key shares and collaborative signatures. For MPC wallets, private key shares will be stored on different devices to mitigate the single point of failure (SPOF) risk of private key, prevent private key from being stolen, and achieve secure self-custody.
What does SINOHOPE MPC wallet have to protect customers' digital assets?
Tier 1 MPC-TSS technology system
SINOHOPE represents an innovation based on MPC-CMP protocol, which integrates software and hardware (MPC-TSS + TEE) that can protect customer digital assets from hacker attacks and internal bad-faith operation and minimize risk of private key loss.
Threshold Signature Scheme (TSS)
SINOHOPE is featured by the distributed storage of private key shares, allowing customers to independently control the private key shares and the relevant digital assets on blockchain. It supports T-N multi-parties signature, minimizing single points of failure to the greatest extent.
Multi-level disaster recovery and account recovery
SINOHOPE provides various solutions for wallet reset and recovery based on MPC technology, such that a wallet account may be restored even if the customer's device is lost.
Security system
SINOHOPE allows customers to set up approval flows and rules engines based on a user's role and/or authorization (time locking, MFA, fraud monitoring) to meet their corporate governance requirements and isolate management responsibilities.
SINOHOPE also introduces the top AML/KYT system to automatically identify high-risk transfers in order to ensure your transactions meet the latest compliance requirements.
How does SINOHOPE MPC work?
SINOHOPE MPC self-custody system as an achievement of MPC-CMP protocol innovation, employs a 3-3 multi-party signature scheme (which also supports t-n threshold signature), where the customer holds one private key share and the other two private key shares are stored on SINOHOPE MPC self-custody system (sgx+ cloud storage). Only all three private key shares together can effect a transaction signature (because only the private key share held by the customer can initiate a transaction, while the other two shards stored on SINOHOPE system can only do verification signatures, the SINOHOPE system has no control of customers' assets).
While using the SINOHOPE MPC wallet, a complete private key will never be generated on any device, and there are no mnemonic words, for hackers to attack. If any one of the private key shares is lost, users can quickly recover the wallet through other private key shares, allowing users to fully control their own digital asset, and solving the trust problem in relation to asset co-management. In addition, SINOHOPE MPC self-custody system adopts multi-level encryption and backup for private key shares stored on the system. In case of loss, it can be recovered by the admin appointed by users. In extreme cases, users can also export and recover the complete private key offline, to avoid the risk of private key loss, leakage, attack, or internal malicious behavior.
How to use SINOHOPE MPC Wallet?
contact us to leave your company information, and our staff will contact you to set up an account for your free trial.
How many chains and tokens does the SINOHOPE MPC wallet support?
The SINOHOPE MPC wallet supports mainstream chains and tokens available in the market. It seamlessly integrates with most active public chains and continuously updates to support and be compatible with new chains, tokens, and protocols.