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Summary: Security is Multichain's top priority.
Multichain cross-chain solution is a threshold distributed signature algorithm based on secure multi-party computation (SMPC). This algorithm enables the generation of a set of private keys on independently run nodes and then a corresponding public key will be produced through distributed computation. Compared with technologies such as secret sharing, it’s impossible to access or reveal private keys as no complete private keys have been shown during the whole process. In addition, during distributed computation, each node will not pass private keys that they hold between each other. MPC makes sure that the intermediate results generated during distributed computation can’t be used to derive corresponding private keys.
The application of the algorithm in the cross-chain interconnection of digital assets is a decentralized way to handle digital assets safely and effectively.
The threshold distributed signature algorithm is implemented in code. This core algorithm needs to be executed by a distributed system, which is Multichain's SMPC Network. It is composed of several independently operated and maintained nodes, and these nodes execute threshold distributed signature algorithms when they need to initialize to generate public keys or perform signatures.
To realize the cross-chain interaction of digital assets, MPC Network is required to be a distributed network that processes cross-chain requests in real time between chains. This is reflected in a trigger mechanism where the status on the original chain is detected in real time and then translated into the behavior on the target chain. The current MPC Network is a distributed system. Each node will independently verify the status of the original chain, and use a threshold distributed signature algorithm between all nodes to reach a consensus on the verification results.
This method, which is based on cryptographic algorithm, can lead to strong consensus. It either produces consistent correct results or no results. This ensures that Multichain’s MPC Network can accurately process cross-chain requests in real time.
The collaboration of the entire distributed system creates a general management protocol for multiple-chain assets: Cross-Chain Router Protocol (CRP). The cross-chain infrastructure of Multichain that is based on CRP is available to the public. Using open-source software protocol, the source code, development and maintenance of the infrastructure can be found on Github.
Cryptography is an evolving discipline and guarding against security attacks is a long-term task. Multichain is closely watching the development of relevant cutting-edge technologies and investing heavily on technological innovation and cyber security.
Multichain is building an academic alliance with global cryptography experts specializing in threshold signature algorithm and MPC, in order to keep up with the latest developments in relevant technologies and push for technological innovation.
Multichain has built long-term partnership with world leading third-party code auditing companies to conduct code auditing of every version or important updates of codes. For more details, please refer to our latest code auditing report.
Bug bonus system and security fund
Multichain will also establish and expand its security fund, which can provide guarantee for the functioning of system and the security of assets. See "Security Fund Plan" for more details.