Blockchain Press Releases
Bitget Wallet Launches MPC Wallet, Providing a More Secure and User-Friendly Web3 Wallet Service
VICTORIA, Seychelles, Oct. 24, 2023 /PRNewswire/ — As the saying unequivocally goes: “Not your keys, not your coins”, the secure management of private keys remains a paramount concern for users in the Web3 space. Traditional wallet solutions often require users to memorize or store complex mnemonic phrases or private keys, which can lead to irrecoverable loss if compromised. To address this security challenge and lower the entry barrier for wallet users, leading multi-chain wallet Bitget Wallet (formerly known as BitKeep Wallet), officially announced the launch of a “keyless” MPC (Multi-Party Computation) Wallet solution. Leveraging enterprise-level MPC technology, Bitget MPC Wallet aims to offer users with a seamless Web3 Wallet experience that boasts industry-leading security parameters.
Secure and User-Friendly “Keyless” Experience
One of the fundamental characteristics of an MPC wallet that sets it apart from conventional and mainstream EOA wallets is the elimination of the need to store or memorize complex mneomonic phrases and / or private keys, hence providing a “keyless” user experience.
With Bitget MPC Wallet, users can easily create an account through email login authentication, making it accessible even for beginners. Additionally, users may perform a cloud backup of their key shares using a simple 3-step process, effectively mitigating risks such as key misplacement or theft.
This facilitates a “keyless” user experience that is useful, convenient, and secure.
Reliable Enterprise-Level MPC Solution
Bitget Wallet’s MPC wallet employs the Threshold Signature Scheme (TSS) that strictly adheres to the highest industry-wide security standards. Bitget MPC Wallet primarily incorporates security features including the generation of large prime numbers, distributed key generation (DKG), distributed collaborative signatures, homomorphic encryption, and the widely-recognized “2/3” threshold, ensuring the highest level of security at all stages of key management from generation to storage.
When creating a Bitget MPC Wallet, the platform automatically generates large prime numbers that are resistant to quantum attacks.
“The generation of secure large primes is to ensure that subsequent protocol operations within the MPC wallet are carried out with the highest security standards possible,” the Bitget Wallet development team states. “When generating large prime numbers, specific conditions have to be met in the algorithm to ensure maximum resistance against potential attacks”.
The process of generating large prime numbers is initiated when a Bitget MPC Wallet is first created, and may take up to a minute.
“Although the creation process may take some time, this is a worthy trade-off as the overall security level is significantly increased,” the Bitget Wallet development team concludes.
For private key generation, Bitget MPC Wallet utilizes distributed key generation technology to create “implicitly mapped complete private key” shares through multi-party collaborative computing. Each key share contains a fragment that will never be transmitted, guaranteeing that private key shares remain secure and that complete private keys are never exposed or leaked, avoiding the possibility of single-point failure.
In the signature process, Bitget MPC Wallet employs distributed threshold signature technology, maintaining the private key in a decentralized and “fluid” state. This enables users to complete signatures without exposing the entirety of the private key at any stage, enhancing both private key and asset security.
On this, the Bitget Wallet team shared: “Most MPC wallet solutions in the market are aimed at retail users, which therefore oftentimes prioritize convenience and convenience over security. For instance, creating an account via a centralized platform may indeed expedite the creation process, but doing so will increase the margin of risk. Similarly, leveraging regular prime numbers in key generation may likewise also compromise on security levels in favour of speed.”
Reshare Mechanism, Standalone Passwords, and Various Safeguards
Bitget MPC Wallet also introduces a “Reshare” mechanism for users, which automatically invalidates key shares on an old device after a user has successfully logged in to their MPC wallet using a new device. Doing so significantly reduces the risk of asset loss as a result of inadvertent key exposure in a previously-used device. Additionally, Bitget MPC Wallet also supports the creation of independent transaction passwords, ensuring that key shares held by the server may only participate in the signing process upon express consent and approval by the user.
Placing Absolute Control into the Hands of Users
Bitget MPC Wallet leverages a “2/3” signature mechanism, providing retail users with enterprise-level MPC security.
Simply put, this mechanism means that the minimum quorum to complete a signature process is the participation of 2/3 of the key shares. One share is stored on the user’s current device, while another is stored on the platform’s server. Both of these shares are used to participate in the signing. The final key share is stored on the cloud, such as iCloud of Google Drive, as a backup and does not participate in the signing process. This approach is comparatively more secure as opposed to the commonly-applied hybrid custody scheme, where both the user and the platform have private key control and require joint access to user funds, as well as third-party custody, where the platform may unilaterally access user funds.
Bitget MPC Wallet: Your Prime Security Choice
Bitget Wallet has always pursued innovation in its products and services, striving to provide users with better products and more convenient services. With the ultimate end goal of serving 1 billion users with unparalleld products and reliable services, Bitget Wallet has recognized the necessity for wallets to strike a balance between seamless onboarding and uncompromised security standards, and has risen up to the challenge.
“For the mass adoption of crypto and Web3, crucial infrastructure like wallets need to meaningfully lower the barriers to entry for users while providing convenient and secure access,” the CEO of Bitget Wallet states. “Bitget MPC Wallet is our first step in proactive experimentation towards ushering in the next wave of users into Web3, and we will continue exploring more ways to achieve our end goal of serving 1 billion users, including enhanced MPC technology and AA wallets.”
About Bitget Wallet
Formerly known as BitKeep, Bitget Wallet stands as Asia’s largest and a global frontrunner among all-in-one Web3 multi-chain wallets. We offer a comprehensive range of on-chain products and DeFi services to our users, including wallet functionality, Swap feature, NFT trading, DApp browsing, and more.
With a 5-year legacy, Bitget Wallet has garnered acclaim from over 12 million users worldwide and has secured partnerships with prominent industry leaders including Ethereum, BNB Chain, Arbitrum, Polygon, and others. This success stems from our commitment to consistently delivering secure and convenient products and services.
In March 2023, Bitget, a leading crypto derivatives trading platform made a substantial $30 million investment in BitKeep, acquiring a controlling stake. Following this strategic move, BitKeep underwent a transformative and strategic brand evolution in August, officially rebranding itself as Bitget Wallet.
For more information, visit: Website | Twitter | Telegram | Discord
View original content:https://www.prnewswire.co.uk/news-releases/bitget-wallet-launches-mpc-wallet-providing-a-more-secure-and-user-friendly-web3-wallet-service-301965481.html
Blockchain Press Releases
From DeFi to Tokenization: Bybit’s Shunyet Jan Explores the Future of Crypto Trading at iFX EXPO
DUBAI, UAE, Jan. 20, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, was presented by Shunyet Jan, Head of Derivatives Business and Institutional Sales, at the iFX EXPO.
Shunyet joined an expert panel titled “Crypto Trading: Finding the Evergreen” to discuss the evolving dynamics of the cryptocurrency market. The session, moderated by Karnika E. Yashwant, Founder and Chairman of KEY Difference, featured Wael Makarem, Financial Markets Strategists Lead at Exness, alongside Shunyet. Together, the panelists explored the concept of “evergreen” strategies in crypto trading, examining how to identify and implement approaches that stand the test of time.
Reflecting on the discussion, Shunyet Jan said, “The iFX EXPO brought together some of the sharpest minds in trading and crypto to tackle the hard questions that define success in a volatile market. Sitting alongside Wael Makarem and Mr. Key on the panel, we delved into the forces shaping crypto’s future – from the integration of AI to the shifting role of institutional players and evolving regulations. Conversations like these are crucial for advancing the industry and helping participants find the ‘evergreen’ in an ever-changing landscape.“
Key discussion points included navigating market volatility, leveraging AI and machine learning for sustainable strategies, the role of institutional players and evolving regulations, and the importance of psychological resilience in long-term trading success. They also analyzed emerging market trends, such as DeFi and tokenization, and shared practical tips for avoiding common pitfalls and building diversified portfolios that thrive in a volatile environment.
Shunyet Jan also led a Gold and Forex workshop at Bybit’s Dubai HQ, generating strong interest in the platform. Bybit’s new MetaTrader-5 license provides professional traders with access to gold, forex, and cryptocurrencies, offering advanced tools, up to 500x leverage, competitive fees, and an intuitive interface for a seamless trading experience.
The iFX EXPO, the online trading industry’s biggest event series, bridges the world’s top brands with like-minded professionals, traders, and more. It has grown into a global standard, providing every individual a hub to network, exchange ideas, and grow their business. The iFX EXPO remains a vital platform for fostering dialogue and collaboration among industry leaders, and Shunyet’s contributions underscore Bybit’s commitment to advancing the cryptocurrency space.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
Photo – https://mma.prnewswire.com/media/2601577/Bybit_s_Shunyet_Jan.jpg
Logo – https://mma.prnewswire.com/media/2267288/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/from-defi-to-tokenization-bybits-shunyet-jan-explores-the-future-of-crypto-trading-at-ifx-expo-302355234.html
VICTORIA, Seychelles, Jan. 20, 2025 /PRNewswire/ — KuCoin, a globally recognized cryptocurrency exchange, has announced the appointment of BC Wong as its new Chief Executive Officer (CEO). This strategic decision underscores KuCoin’s commitment to global growth, innovation, and regulatory compliance.
BC Wong, widely known within the organization as “BC,” is a seasoned leader with extensive experience in the cryptocurrency industry. As a key member of KuCoin’s leadership team, his expertise and strategic vision have been instrumental in establishing KuCoin as a reliable platform for millions of users worldwide.
Throughout his tenure, BC has advanced global regulatory engagement while skillfully navigating industry challenges. Under his leadership, KuCoin remains dedicated to prioritizing user-centricity, robust security, and technological innovation.
“Our priority is to build a reliable platform for our users,” BC stated. “As CEO, I am focused on enhancing our global presence and fostering collaboration with regulators to create a secure, inclusive financial ecosystem. Together with our partners and users, we will shape the future of finance.”
Focus on Compliance and Reliability
A Singaporean with a Juris Doctor degree from Singapore Management University and a master’s degree from George Washington University, Wong brings a global perspective to KuCoin. In his previous role as Chief Legal Officer, he spearheaded efforts to secure regulatory licenses and strengthen relationships with regulators, reinforcing KuCoin’s commitment to compliance.
Wong has been instrumental in collaborating with regulators across the EU, Asia, the Middle East, and Africa, reinforcing KuCoin’s reputation as a compliant and secure platform. His strategic efforts have reinforced KuCoin’s commitment to providing a safe and reliable trading environment on a global scale.
Empowering Users Globally
KuCoin is dedicated to democratizing access to cryptocurrency through secure and innovative solutions. By expanding its presence in key markets, the company continues to provide seamless, user-friendly experiences for investors worldwide.
Under BC’s leadership, KuCoin has also prioritized Corporate Social Responsibility (CSR), partnering with organizations such as the Global CSR Foundation and the American Medical Women’s Association. Notable initiatives include participation in the UN COP28 Climate Change Conference, Green Blockchain Projects, the Light Up Africa Program, and the Climate Change Bucket initiative, benefiting over 50,000 women and children globally.
About KuCoin
Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 38 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. These recognitions reflect its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.
Photo – https://mma.prnewswire.com/media/2601542/BC_Wong_CEO_KuCoin.jpg
Logo – https://mma.prnewswire.com/media/2356857/KuCoin_Horizontal_Green_LOGO_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/kucoin-appoints-bc-wong-as-ceo-to-lead-compliance-and-global-expansion-302355187.html
Blockchain Press Releases
The Moskowitz Law Firm, PLLC Announces Preliminary Approval of a Proposed Class Action Settlement on Behalf of Purchasers of Astrals Non-Fungible Tokens and Galaxy Tokens
MIAMI, Jan. 18, 2025 /PRNewswire/ — The Moskowitz Law Firm, PLLC announces the preliminary approval of a proposed class action settlement that would benefit purchasers and legal title holders of Astrals Non-Fungible Tokens or Galaxy Tokens:
On January 14, 2025, the United States District Court for the Southern District of Florida preliminarily approved a proposed settlement of a class action captioned Harper v. O’Neal, Case No. 23-CV-21912-MORENO. The settlement class includes persons and entities who, from May 24, 2022 to January 14, 2025, purchased Astrals NFTS and/or who, before January 14, 2025, purchased GLXY tokens.
Claims for settlement benefits must be submitted by April 17, 2025. Objections to the settlement and requests for exclusion from the settlement must be received by March 3, 2025 in accordance with the instructions in the Class Notice, which is posted on the settlement website www.astralsnftsettlement.com. The Court will hold a Final Approval Hearing on April 1, 2025, at 9:30 a.m. For more information about the settlement and its terms please visit www.astralsnftsettlement.com.
If you have questions about any matter in this Class Notice, please contact the following representative of Class Counsel, who can answer questions:
Adam M. Moskowitz
The Moskowitz Law Firm, PLLC
P.O. Box 653409
Miami, FL 33175
(305) 740-1423
[email protected]
[email protected]
-
Blockchain4 days ago
Pelican AI and Christie Capital Announce Launch of Brokered Financing
-
Blockchain5 days agoBlocks & Headlines: Today in Blockchain (BubbleMaps, Pantera Capital, Week 2025, FP Complete, FP Block, Bybit, FarmX)
-
Blockchain6 days ago
Blocks & Headlines: Today in Blockchain (Vault Zero, Ethereum, DAMAC, Mantra, Cardano, FC Barcelona, ArmSwap)
-
Blockchain Press Releases5 days agoHTX Achieves 100% YoY Trading Volume Growth to $2.4 Trillion in 2024, Powers User Growth to Over 49 Million
-
Blockchain6 days ago
MiCA Starts Now: What Crypto Businesses Need to Know. Kyrrex and Simplify Labs announce a new webinar for crypto businesses
-
Blockchain Press Releases3 days ago
Bybit: A Global Favorite Among Full-Time and Professional Traders and the World’s Second-most popular Crypto Exchange
-
Blockchain3 days ago
Sportsbet.io Becomes New Title Partner of Snooker’s Players Championship, Tour Championship and Champion of Champions
-
Blockchain Press Releases3 days agoThe Moskowitz Law Firm, PLLC Announces Preliminary Approval of a Proposed Class Action Settlement on Behalf of Purchasers of Astrals Non-Fungible Tokens and Galaxy Tokens
