Expand Your Understanding of MPC Technology and Supported Chains

According to reports, Xu Mingxing posted on social media that MPC technology is still in its early stages, and the signature algorithm only supports 36 chains. We are working hard to expand to most chains.

Xu Mingxing: MPC technology is still in its early stages

In recent times, the blockchain industry has witnessed significant growth, with many technologies springing up to enhance the security of data storage, processing, and transmission. Among these technologies is the Multi-Party Computation (MPC), which has gained increased attention due to its potential in ensuring the security of data in blockchain. However, its adoption and expansion are still in their early stages, and its signature algorithm only supports 36 chains. In this article, we will explore the concept of MPC technology, its current state, and the efforts towards expanding it to support most chains.

What is Multi-Party Computation Technology?

The Multi-Party Computation (MPC) technology is a cryptographic concept that enables different parties to jointly compute a function over their inputs without revealing them. In simpler terms, MPC technology allows several people to work together to perform a specific task without revealing sensitive information to any of the parties involved.

The Current State of MPC Technology

As mentioned earlier, the adoption of MPC technology is still in its early stages, with the signature algorithm only supporting 36 chains. This limitation has hindered its widespread adoption in the blockchain ecosystem, as most chains are not supported. However, several efforts are currently underway to address this limitation and expand the technology’s scope.

Efforts towards Expanding MPC Technology to Support Most Chains

To expand MPC technology’s scope and support most chains, several organizations and individuals have initiated research, development, and collaboration efforts. These initiatives aim to enhance the technology’s adoption and integration into various existing and new blockchain ecosystems.
One of such efforts is being championed by Xu Mingxing, who posted on social media that MPC technology is still in its early stages, and they are working hard to expand to most chains. The post highlights the commitment towards expanding and optimizing the technology, which is essential towards its acceptance and integration.
Furthermore, other organizations, such as the International Association of Trusted Blockchain Applications (INATBA), have also emphasized the importance of research and collaboration towards expanding MPC technology to support most chains. INATBA’s efforts aim to promote the adoption of blockchain and Distributed Ledger Technologies (DLTs) through collaborations with organizations across various sectors.

Summary

To sum up, MPC technology is a promising cryptographic concept that enhances data security in blockchain. However, its adoption and expansion are still in their early stages, and its signature algorithm only supports 36 chains. Nevertheless, several efforts are underway towards expanding and optimizing the technology’s scope to support most chains, which would enhance its adoption and integration.

FAQ

1. What is MPC technology?
MPC technology is a cryptography concept that allows different parties to jointly compute a function over their inputs without revealing them.
2. Why is the adoption of MPC technology still in its early stages?
The adoption of MPC technology is still in its early stages due to the signature algorithm only supporting 36 chains, which limits its compatibility with many existing and new blockchain ecosystems.
3. What are the efforts towards expanding MPC technology’s scope?
Several organizations and individuals have initiated research, development, and collaboration efforts towards expanding MPC technology’s scope to support most chains. These initiatives are essential towards enhancing the technology’s adoption and integration.
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