dWallet Labs, a cybersecurity company specializing in blockchain technology, has announced the release of Tiresias, which will enable the application of massive-scale threshold Paillier settings with thousands of parties in real-world scenarios.
Advantages of a distrustful MPC
As part of the development of the Odsy Network and the dWallet primitive, Tiresias will enable the trustless execution of Multi-Party Computation (MPC) between thousands of participants.
Numerous financial institutions and Web3 users employ MPC and threshold cryptography to secure assets and eliminate the single point of failure created by private keys. The Web3 MPC protocols generate ECDSA signatures (currently the most popular signature algorithm in blockchains) with a threshold of parties rather than a single private key.
Existing state-of-the-art Threshold ECDSA protocols such as Lindell’s protocol (Lindell 17), Gennaro and Goldfeder’s protocols (GG18, GG20), and MPC-CMP are utilized by a variety of solutions, including custodians (e.g. Fireblocks, Copper), wallet providers (e.g. Coinbase, ZenGo), and distributed networks (e.g. Thorchain, Qredo).
Yehonatan Cohen Scaly, Chief Technology Officer at dWallet Labs and Co-Founder of Odsy Network, remarked:
“The problem with MPC protocols like these is that they either require a trusted setup or are limited by performance to a very small number of participants. The premise of Web3 is that the only way to be trustless is with strong decentralization, so having a small number of participants is just as unacceptable as having to trust one entity.”
Vast potential
Due to this limitation on decentralization, the promise that MPC holds for Web3 has not been completely realized. THORChain permits the most parties with a threshold of 23 of up to 20 participants – which is still a significant distance from being decentralized.
Web3 projects that attempt to implement MPC in the context of a permissionless network (e.g. ICP, THORChain, Lit Protocol, etc.) wind up implementing MPC in a very small subset of parties outside of the permissionless settings.
Existing state-of-the-art MPC protocols necessitate unicast communication between participants, i.e., every participant must communicate with every other participant, resulting in a quadratic increase in complexity with each additional participant, or O(n2), and a very low participant limit.
Vice President of Research at dWallet Labs, Dolev Mutzari, added:
“With Tiresias, unicast communication can be replaced by broadcast communication, remaining true to a blockchain design while also reducing the complexity of communication from quadratic to linear – or O(n) – potentially opening the door to threshold protocols with hundreds, thousands or even tens of thousands of participants.”
Content Source: banklesstimes.com
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