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What Is MPC Self Custody Platform And How It Has Collaborated With Huobi Huobi To Improve User Asset Security?

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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 settle

What Is MPC Self Custody Platform And How It Has Collaborated With Huobi Huobi To Improve User Asset Security?

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

With the rise of cryptocurrencies, digital assets are becoming increasingly mainstream. However, managing and securing these assets has become a major concern due to cyber threats and hacking attacks. To address this issue, various crypto custody services have emerged, including the MPC self custody platform under Xinhuo Technology Holdings Co., Ltd. (1611. HK). Recently, it has announced that it has entered into an Openloop clearing and settlement network cooperation with the crypto asset trading platform Huobi Huobi, which paves the way for secured transactions.

The Emergence Of Crypto Custody Services

Crypto custody services have gained significant attention among cryptocurrency users due to the vulnerability of digital assets. The traditional practice of storing these assets on digital wallets or exchanges is risky since they are susceptible to hacking attempts and theft. The lack of regulations and centralized authority also makes it challenging to safeguard these assets. This has created a demand for custody services that can offer secure storage and management of digital assets.

Introduction to MPC Self Custody Platform

The MPC (Multi-Party Computation) self custody platform is one such custody service that provides secure storage solutions to digital assets without compromising privacy. It uses multi-party computation cryptography to manage digital assets for individuals and businesses. The MPC technology uses a distributed key generation scheme, which protects the assets from cyber threats and prevents single points of failure. This means that even if some keys are lost or compromised, the assets remain secure. The MPC self custody platform is designed to provide a secure and user-friendly environment for users to manage their digital assets.

Collaboration with Huobi Huobi

The MPC self custody platform recently announced its collaboration with Huobi Huobi, a leading crypto asset trading platform. Through this partnership, Huobi Huobi will integrate the MPC self custody platform into its Openloop network, enabling users to perform transactions without the need to withdraw funds from their self custody accounts. This will help in achieving the separation of fund security custody and trading behavior, which enhances asset security. Users can complete transactions with their own funds, thus minimizing the risk of loss due to hackers or platform failures.

Benefits of the Collaboration

The collaboration between the MPC self custody platform and Huobi Huobi brings several benefits to the cryptocurrency ecosystem. Firstly, it enhances the security of digital assets by providing secure custody and preventing unauthorized access. Secondly, it allows users to maintain control over their assets, which was previously not possible once they were deposited in a third-party exchange or wallet. Thirdly, it reduces the risk of losses caused by platform failures, hacking attempts, and cyber threats, as the assets remain under the control of the user.

Conclusion

The collaboration between the MPC self custody platform and Huobi Huobi is a significant step towards enhancing the security of digital assets in the cryptocurrency ecosystem. It provides a secure and user-friendly platform for users to manage their digital assets, reducing the risk of unauthorized access and loss of funds. The ability to separate fund security custody and trading behavior is a crucial step towards improving user asset security and should be adopted by other digital asset platforms. Keeping your digital assets safe should always be a priority.

FAQs

1. What is the MPC self custody platform?
The MPC self custody platform is a custody service that provides secure storage solutions to digital assets using multi-party computation cryptography.
2. What is Huobi Huobi?
Huobi Huobi is a leading crypto asset trading platform.
3. What are the benefits of the collaboration between MPC self custody platform and Huobi Huobi?
The collaboration enhances the security of digital assets, allows users to maintain control over their assets, and reduces the risk of losses caused by platform failures, hacking attempts, and cyber threats.

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