Bytom announces that it becomes a member of MPC Alliance which aims to accelerate industry awareness and adoption of Multiparty computation (MPC) based technologies, products, and services to enhance security, privacy, and innovation of online services.
MPC offers tremendous advancements in the implementation and management of security and privacy controls, particularly for distributed digital information and decentralized services. Early aspects of MPC have existed in concept since the 1970s but for decades was limited to
academic research and proof of concept trials. Thanks to advancements in computing and MPC implementations, MPC-based technologies and services are now practical, fast, and efficient resulting in increasing adoption and use across diverse markets.
Bytom uses Threshold Signature Scheme (TSS) to approve cross-chain transactions and secure cryptocurrency transactions. A threshold signature scheme is a method that replaces the KeyGen and Sign algorithms of a digital signature scheme with an interactive protocol amongst multiple parties.
Bytom Blockchain Protocol (referred as Bytom) is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and so forth that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom. Bytom endeavors to bridge the atomic world and the byte world, promoting the integration of assets between the two worlds, with the mission of creating diverse assets and a programmable economy.