MPC-based custody service introduction and considerations REVIEW

Custody service has been in service for a long time, but with the rapid growth of the digital virtual asset market, interest in the custody service to store virtual assets safely. Global and domestic financial sectors, exchanges, and fintech companies are promoting a service that can safely store virtual assets. There are various methods of digital asset security-related technologies, but in order to establish a custody environment that requires high security, the private key and virtual asset address, which are important items, must be prevented from risk factors such as hacking. The security technology that can realize this is MPC (Multi-Party Computation). MPC divides the private key into N shares and stores it in a safe storage place, does not share key information when a signature or private key is required and keeps shared information private in a method called zero-knowledge. , It uses a method that does not expose the private key to the outside by authentication. What are the essential components to build a custody service and introduce the Wallet and Storage type for the custody service. In addition, you can see what the architecture and service configuration diagram is for building a custody service, and how the infrastructure is connected with TEE (Trusted Execution Environment) and CSP in a cluster environment. Understand the flow of the process in the custody environment and the flow of the Hot Wallet / Warm Wallet / Cold Wallet. Finally, you can get insights on what to consider when building a custody service. In addition, Secure MPC, TEE, ZKP, and Secure Storage technologies, which are essential items for building a custodial service, can be built through open source.
  • Kangwuk Heo
  • Kangwuk Heo / Hana Bank, Blockchain Professional Architect Senior Manager
  • He is in charge of a specialized Blockchain architecture role. He served as a Blockchain technology leader at IBM and worked on blockchain-related consulting and various blockchain projects. He is a Blockchain Expert and Blockchain Professional Architect with extensive experience in use case consulting, architecture design, service development, and education in the field of Blockchain. He is very interested in discovering new services through the grafting of blockchain and DT-related technologies, and He is investing time in designing and developing various open source-based services. Currently, He is working as a blockchain technology advisor and a blockchain technology expert.

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