Shamir's Secret Sharing: Why Is It NOT MPC for PrivateKeys?
By A Mystery Man Writer
Description
Shamir's Secret Sharing is often used for private key management, but has low robustness & security. This makes it dangerous for users' assets.
Private keys (and, to some extent, seed phrases) can be daunting to manage for non-tech-savvy users. And, even for knowledgeable ones, the perspective of securely storing keys forever might be overwhelming, even if they embrace the idea of self-custody. This specific need created a market of its own, leading to the development of different tools. The most popular way to solve this problem is via Wallet-as-a-Service (WaaS) solutions, allowing users to create wallets directly embedded in dApps
Private keys (and, to some extent, seed phrases) can be daunting to manage for non-tech-savvy users. And, even for knowledgeable ones, the perspective of securely storing keys forever might be overwhelming, even if they embrace the idea of self-custody. This specific need created a market of its own, leading to the development of different tools. The most popular way to solve this problem is via Wallet-as-a-Service (WaaS) solutions, allowing users to create wallets directly embedded in dApps
Sharanjeet Singh (@sj_singh) / X
Ethan F. on LinkedIn: #web3 #buidling
![Shamir's Secret Sharing: Why Is It NOT MPC for PrivateKeys?](https://blog.matrixport.com/wp-content/uploads/2023/03/MPCSignature-1024x538.png)
Managing Private Keys with MPC and Custodians - Cactus Custody Blog
![Shamir's Secret Sharing: Why Is It NOT MPC for PrivateKeys?](https://www.researchgate.net/publication/351675029/figure/tbl3/AS:1025308106948613@1621463910695/Number-of-communication-rounds-for-SMPC-password-matching-considering-the-2-3-and-3-5.png)
Number of communication rounds for SMPC password matching considering
![Shamir's Secret Sharing: Why Is It NOT MPC for PrivateKeys?](https://blog.particle.network/content/images/2023/12/image1.png)
Shamir's Secret Sharing: Why Is It NOT MPC for PrivateKeys?
![Shamir's Secret Sharing: Why Is It NOT MPC for PrivateKeys?](https://d230m64oxp1vr8.cloudfront.net/editor/MPC-11686558270094.jpg)
A brief idea of how MPC wallets work
![Shamir's Secret Sharing: Why Is It NOT MPC for PrivateKeys?](https://assets-global.website-files.com/623ad174ca1da302c912e9e4/629de89549b495e04b6f51d7_MPC%20multi-party%20computation.png)
What is MPC (Multi-Party Computation) EXPLAINED
Multi Party Computation (MPC) in context with other cryptographic signature approaches
![Shamir's Secret Sharing: Why Is It NOT MPC for PrivateKeys?](https://assets-global.website-files.com/64146a6197229d65fe665d88/65cbc8d65dad6fafbc2d081d_MPC_4%20copy.png)
Multisig vs. Shamir's vs. MPC: Institutional-grade bitcoin custody
![Shamir's Secret Sharing: Why Is It NOT MPC for PrivateKeys?](https://s3.amazonaws.com/assets.coingecko.com/app/public/ckeditor_assets/pictures/7589/content_Multi-Sig_Wallets_by_Sankrit.webp)
MPC Wallets vs. Multi-Sig Wallets: A Deep Dive
![Shamir's Secret Sharing: Why Is It NOT MPC for PrivateKeys?](https://www.zeeve.io/wp-content/uploads/2023/06/blog-banner-13-06.png)
What is the Threshold signature scheme(TSS)? Multi-party Computation(MPC) simplified
from
per adult (price varies by group size)