Special Features of Qredo Protocol

With thousands of startups going strong and constantly looking for investors, there seems to be no way to help them find the right investors without risking spreading the business idea together. Likewise, there's no really right way for investors to find companies that really matter to them.

Blockchain technology can change all of that. In fact, it has already begun to happen.

Includes MPC, making it easier to secure tokens. In addition to the social networking function, it also gives startups or companies the opportunity to expand their business. The project team unveils a new unique concept where anyone can easily collaborate with Qredo for development.

Although now a lot of anonymous companies are springing up like mushrooms with the idea of ​​making money from stupid investors. When they don't understand its motives and tricks, they only know it through cheap social networks with scam tricks.

Coming to Qredo will leverage Layer 2 protocols to their full potential through the use of decentralized communication protocols, Layer 3, as an independent layer to offload any unrelated communication. . This is essential for Layer 2 to provide effective solutions for traditional financial institutions that want to join or develop their DeFi protocols.

The Qredo protocol uses multi-party computation to generate segregated deposit addresses and eliminates the risk of private key theft. MPC nodes sign transactions through a secure consensus-driven workflow without the need for centralized private key storage.

The design of the protocol, from the consensus layer to the design of digital assets and economic security, is intended to provide on the premise that the entire network is the vault and eliminate all counterparty risk for the providers. liquidity providers, market makers and traders. All deposits and holdings are mapped 1-1 with the underlying Layer 1 blockchain and auditable via the Qredo block explorer.



Highlights of Qredo Network

Decentralized security

Qredo's protocol claims ownership of assets on a decentralized ledger versus storing it in a centralized database. Based on MPC network consensus eliminating the risk of private key theft.

Cross-chain interoperability
Support the development of the cross-chain cryptocurrency market with easy cross-chain atomic swaps and cross-chain credit facilities.

Transaction security and automatic execution
Qredo has built in security and privacy protocols that ensure no partner on the Qredo network knows your strategy and transactions are not affected by pre-runs, MEV disruptions, and other activities. unrighteous.

Qredo and What are the benefits of using MPC technology?

Speed. Transactions can be signed faster off-chain, because they don't rely on transacting with slow underlying blockchains.

Cost. Signatures computed off-chain do not incur network fees.

Privacy. Off-chain signing cannot be viewed on the public ledger. This prevents the chain of transactions being exposed—something which could reveal sensitive signing schemes and workflows to potential attackers. 

Compatibility. While multisig wallets are tied to a specific blockchain, MPC works on the standardized cryptographic signature algorithm (ECDSA) that can be implemented across 95% of blockchains.

Flexibility.  Offchain distributed signing allows for complex governance schemes that can be more easily configured to fit organizational requirements and comply with regulatory needs.

Even if a hacker somehow managed to break into a single MPC node, they would have no way of knowing the value of the collective output from all the nodes. To gain control of a wallet secured by MPC, they would theoretically need to launch a simultaneous attack on the total number of devices needed to sign a transaction.

For example, If the number of nodes is ten and the threshold needed to sign a transaction is five, then the attackers would need to break into six nodes and steal the key shares. This is made more difficult by proactive security measures  like key rotation that automatically move sensitive private key material between nodes.

Assuming the MPC is implemented on secure hardware, this need to attack simultaneously on multiple fronts makes MPC significantly more secure than other private key storage methods like hot and cold wallets which have a single point of failure. 

WEBSITE: https://www.qredo.com/
TWITTER: https://twitter.com/QredoNetwork
LINKEDIN: https://www.linkedin.com/company/qredo
TELEGRAM: https://t.me/qredonetwork
DISCORD: https://discord.gg/bgVPvf6
GUTHUB: https://github.com/qredo


Author:
Telegram: @Eulaliax3
Email Qredo: [email protected]


#Qredo #MPC #Blockchain