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Gate Unveils Gate Vault Multi-Chain Wallet with MPC Security

Gate’s new MPC-powered multi-chain wallet features distributed key storage, delayed withdrawals, and disaster recovery, offering VIP3+ users free limited-time access.

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Summary

Gate announced the launch of Gate Vault, a multi-chain wallet utilizing MPC technology to boost asset security and control. Private key shards are stored via distributed storage without full key reconstruction during signing, preventing single-point attacks. It employs a three-party distributed key architecture with a 2-of-3 signing mechanism, a 48-hour withdrawal delay, and a global disaster recovery system. VIP3+ users receive limited-time free access, with paid access coming soon for others. The initiative strengthens Gate’s security offering and expands its Web3 ecosystem.

Terms & Concepts
  • Multi-Party Computation (MPC): A cryptographic technique that allows multiple parties to jointly compute a function over their inputs while keeping those inputs private, enhancing security for digital assets.
  • 2-of-3 Mechanism: A transaction signing method requiring any two of three distributed key fragments to authorize an action, increasing resilience against key compromise.
  • Multi-Chain Wallet: A cryptocurrency wallet capable of supporting transactions across multiple blockchain networks within a single interface.