Curv Air Gap – MPC Cold Storage Adds Additional Security
We at iTrustCapital are proud to announce the implementation of Curv Air Gap. The Air Gap solution is an extension of the already hyper-secure MPC technology that removes the single point of failure of private-keys for signing cryptocurrency transactions. Air Gap preserves the final signing process to a node wholly disconnected from any network, making our wallet security a true 2nd generation cold storage solution.
Curv is setting the standard in this area by eliminating the single points of failure inherent with standard cold storage. They work with industry leaders such as eToro and Franklin Templeton to provide digital asset storage at an enterprise level. By partnering with Curv, institutions are able to create key-management solutions that scale and are secure.
Standard Cold Storage vs MPC Cold Storage
A lot of debate is had over which method to store and secure digital assets reigns supreme. We would argue that the best strategy is multi-faceted.
Let’s consider Standard Cold Storage and Multi-Party Computation (MPC) Cold Storage, which are often considered the most optimal way to store bitcoins and other digital assets.
Cold Storage is usually secured through the use of Multi-Signature (Multisig) or even Single-Signature. In Multisig, an institution will require not just one, but multiple cold storage keys to sign off on a transaction. This attempts to address the single point of failure in using just one device / single signature.
While Standard Cold Storage has many benefits, MPC allows private keys to be stored in a distributed manner and are never held in a single location. While Multisig requires multiple keys to sign, MPC requires multiple parties to actually perform a computation to complete a transaction. This makes it more difficult and costly to attack the network. While any attacker may be able to get their hands on a Standard Cold Storage key, it would be almost impossible for an attacker to be able to perform a computation under the MPC model employed by iTrustCapital.
This is why we are so excited about Air Gap, which leverages the best of both worlds through the use of cutting-edge cryptography. With Air Gap, one or more of the signers can be a computer that has never had access to the internet. This is true Cold Storage. While these computers can’t access the world wide web, they are still VERY good at math, allowing them to be one of the parties required to execute a transaction, as required by the MPC protocol.
The Future of Digital Asset Security
Clients don’t need to worry about learning complexities around public keys, hardware wallets, bitcoin public addresses …etc. Our solution is not only easy for clients to understand and use, but is designed for long-term storage with security as the highest priority.
In order for the digital asset space to grow and flourish, we need to bring together the best minds and never stop building. We know that clients will covet this added layer of security to Curv’s already iron-clad key-management system.