Security is one of the major issues hindering the full potential of cryptocurrency. However, Unbound Tech seems ready to take on the problem. In a news release, Unbound announced the release of blockchain-crypto-mpc which is open source and available on Github.
The security solution is available via Secure Multi-Party Computation (SMPC). Dubbed the Unbound Crypto Asset Security Platform (CASP), the solution uses security that shows mathematical validity.
A blockchain-crypto-mpc for high level security
The solution provides various entities with high-level security. Potential users of the security feature include banks, crypto exchanges and wallet services with distinctive levels of security. Further, the solution works in such a way that it integrates into any ledger. This is a great leap in terms of security.
Particularly, the blockchain-crypto-mpc protects cryptocurrency keys such that hackers can never get access to them. It protects the keys throughout their lifecycle including creation, in-use and at-rest.
Furthermore, Unbound’s CASP solves a rather nightmarish problem that haunts much of the cryptosphere today. Particularly, it ensures that the process of crypto custody is secure and that customers are safe from lost funds.
Pure software, open-source and free to use
In addition, it serves as “a software-only solution that divides keys into pieces that are never reconstructed and can easily adapt to constantly changing signatures used in more than 1,500 cryptocurrencies.”
The solution provides the ability for a two-party approval process which secures end-to-end transactions.
Commenting on the developments, Avner Mor, CEO at Unbound said that the solution is commensurate with their vision. He says that the solution aims at securing organisations that rely on a trust and security guarantee.
“We see Unbound’s CASP as the answer to our customers’ stringent security requirements that also cost-effectively opens up doors for fast-paced growth,” said Mor.
On his part, Oz Mishli, vice president of products at Unbound said:
“It’s pure software, open-source and free to use. We see this as a doorway to a new level of security with support of proven deployments at tier 1 global banks and tech companies.”