Famous cryptocurrency exchange and futures trading platform Bitget has developed a new security and key management feature for its users. According to this, the exchange team has launched a new wallet service called Multi-Party Computation (MPC). Bitget, which has taken action to revamp private key and asset management, opted for MPC technology. This method uses a distributed key generation mechanism that distributes multiple key shares to different locations controlled by multiple parties. The MPC wallet eliminates a long-standing industry standard that relies on users storing or memorizing mnemonic phrases and private keys.
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