dWallet Labs Reveals Research To Bring First Scaleable MPC to Web3 - With Thousands of Parties and Unprecedented Speed - Decrypt

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29 Jun 2023 3:34 PM

MPC and threshold cryptography is used by many financial institutions and users in Web3 to secure assets and remove the single point of failure that private keys create....

  • dWallet Labs has released Tiresias, a work that enables massive-scale threshold Paillier settings with thousands of parties in real-world scenarios.
  • Tiresias allows for trustless multi-party computation (MPC) between thousands of participants, addressing the limitations of existing MPC protocols.
  • Existing MPC protocols have either required a trusted setup or have been limited to a small number of participants, hindering decentralization.
  • Tiresias replaces unicast communication with broadcast communication, reducing complexity and potentially enabling threshold protocols with hundreds, thousands, or tens of thousands of participants.
  • Current MPC algorithms are slow and do not support batching of signatures, making them impractical for real-world scenarios.

The article highlights the limitations of existing MPC protocols and introduces Tiresias as a solution to enable trustless multi-party computation on a large scale. The tone of the article is positive, emphasizing the potential of Tiresias to unlock the full potential of MPC in Web3 projects.

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You May Ask

What is Tiresias?What are the limitations of existing MPC protocols?How does Tiresias address the limitations of existing MPC protocols?What is the significance of replacing unicast communication with broadcast communication in Tiresias?Why are current MPC algorithms impractical for real-world scenarios?

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