MPC Self Custody Platform Enters Cooperation with Huobi: Separating Fund Security from Trading Behavior

On April 14th, it was announced that the MPC self custody platform under Xinhuo Technology Holdings Co., Ltd. (1611. HK) has officially entered into an Openloop clearing and settlement network cooperation with the crypto asset trading platform Huobi Huobi. Through this cooperation, it will effectively help users achieve the separation of fund security custody and trading behavior, allowing users to complete transactions with their own funds without leaving their self custody account, improving user asset security.

Huobi and New Fire Technology’s MPC self hosting platform have reached an OpenLoop settlement network cooperation

As the crypto industry continues to grow and evolve, the issue of fund security has become a top priority for many users. On April 14th, it was announced that the MPC self custody platform under Xinhuo Technology Holdings Co., Ltd. (1611. HK) has officially entered into an Openloop clearing and settlement network cooperation with the crypto asset trading platform Huobi Huobi. Through this cooperation, it will effectively help users achieve the separation of fund security custody and trading behavior, allowing users to complete transactions with their own funds without leaving their self custody account, improving user asset security.

Understanding the MPC Self Custody Platform

The MPC self custody platform is a secure, decentralized platform used for the storage of crypto assets. It employs multi-party computation (MPC) technology, which involves the use of a group of nodes to jointly store and manage user private keys, improving security by eliminating the need for a single point of trust. This technology ensures that no individual node holds the entire private key, meaning that even if one node is compromised, the funds will still be secure.

The Importance of Fund Security and Custody in the Crypto Industry

One of the biggest challenges facing the crypto industry is the issue of fund security and custody. Due to the decentralized nature of cryptocurrencies, custodianship of funds is often left to individual users. As a result, there have been numerous instances of theft, hacks and fraud, highlighting the need for secure, reliable custody solutions. Additionally, the use of centralized exchanges for trading can add another layer of risk, as users must relinquish control of their funds in order to execute trades.

Benefits of the MPC Self Custody Platform/Huobi Cooperation

The collaboration between the MPC self custody platform and Huobi Huobi seeks to address these concerns by providing a secure, decentralized solution for both custody and trading. Through the use of the Openloop network, users will be able to seamlessly transfer funds from their self custody account to Huobi Huobi for trading purposes, without giving up control of their private keys. This will eliminate the need for users to transfer funds to a centralized exchange, where they are more vulnerable to attack and theft.
Furthermore, the collaboration will enable users to execute trades with greater speed and efficiency. Transactions can be completed instantly, without the need for confirmation from a third party, improving the overall user experience.

The Future of Fund Security and Custodianship in the Crypto Industry

The collaboration between the MPC self custody platform and Huobi Huobi represents a significant step forward in the quest for secure, reliable fund security and custodianship solutions. As the crypto industry continues to expand and gain mainstream acceptance, it is likely that we will see more companies and platforms adopt similar technologies and strategies.

Conclusion

Overall, the partnership between the MPC self custody platform and Huobi Huobi represents an exciting development for the crypto industry. By separating fund security from trading behavior, users can enjoy greater security and control over their assets. Furthermore, by leveraging the power of decentralized technology, the collaboration will enable faster, more efficient trades, improving the overall user experience.

FAQs

1. What is the MPC self custody platform?
The MPC self custody platform is a secure, decentralized platform used for the storage of crypto assets. It employs multi-party computation (MPC) technology to improve security.
2. What is the Openloop clearing and settlement network?
The Openloop clearing and settlement network is a decentralized network that enables seamless transfers between different platforms and ecosystems.
3. Why is fund security important in the crypto industry?
Due to the decentralized nature of cryptocurrencies, custodianship of funds is often left to individual users. As a result, there have been numerous instances of theft, hacks and fraud, highlighting the need for secure, reliable custody solutions.