HONG KONG, Aug. 10, 2020 /PRNewswire/ — A few days ago, HyperPay wallet introduced TSS (Threshold Signature Scheme) advanced cryptography technology, and was the first to implement it in HSM (Hardware Security Module).
HyperPay has fully implemented the ECDSA TSS solution and applied it in HSM. Through the encrypted interaction of multiple HSMs, the final signature is jointly calculated, which saves the on-chain multi-signature fees and avoids the on-chain multi-signature loopholes. It is the first time in the industry that combines TSS and HSM technologies to create the highest security level of off-chain products and wallet. HyperPay will maintain the unremitting pursuit of security technology in the subsequent business development, and maintain the security of the business operating environment.
Digital assets, a form of currency based on computer information technology, came into being due to the development of modern information technology and application. It improves transaction security because of its characteristics such as traceability, anti-counterfeiting, and anti-tampering, and has developed rapidly based on the government-encouraged blockchain technology.
However, the security accidents of blockchain digital assets are on the rise, caused by miscellaneous reasons, so the management and security problems of large assets have become the enduring focus in the industry.
Since the underlying logic of the public chain and smart contract may have loopholes, hackers may be lurking in them, waiting to steal the assets on the chain. Once the assets on the chain are stolen, the possibility of recovery is small, and it is clear that using multi-signature to protect the security of assets can no longer kept up with the needs of technological iteration.
New Direction of Asset Security Technology – TSS (Threshold Signature Scheme)
Threshold signature is a distributed multi-party signature protocol, including distributed private key generation, signature and verification algorithms. In recent years, with the rapid development of blockchain technology, signature algorithms have gained widespread attention in academic research and commercial applications, especially in the dimensions of security, ease of use, scalability, and distributability.
Because of the close and important connection between blockchain technology and signature algorithms, the development and the introduction of new paradigms of signature algorithms will directly affect the characteristics and efficiency of blockchain networks. In addition, the private key management needs of institutions and personal accounts inspired by distributed ledgers have also hastened the birth of many wallet applications, and this change has even spread to traditional enterprises.
Whether in blockchain or traditional financial institutions, threshold signature schemes can bring security and privacy improvements in a variety of scenarios. As an emerging…