Why can't a Guardian steal my crypto?
Multi-Party Computation (MPC) is a key feature of Gridlock's mobile wallet that enhances security by preventing theft from any individual node in the network. MPC works by dividing the user's private keys into shares that are distributed across multiple parties.
Each party holds only a portion of the private key and has no complete access to the user's assets. This means that even if one party's node is compromised, an attacker cannot gain full access to the user's private key or steal their crypto.
To complete a transaction, a certain threshold of parties must collaborate and contribute their key shares. This threshold ensures that no single party can perform a transaction alone without the involvement of others.
By distributing the private keys in this way, Gridlock's wallet eliminates the risk of a single point of failure, making it extremely difficult for any individual node to steal the user's crypto assets. This advanced MPC technology provides a high level of security and gives users peace of mind when managing their digital assets with Gridlock.