Brothers, what's going on? A huge bullish candlestick has caused huge losses.
Regardless, I still need to write what needs to be written. Is the leak of the Viewing Key industrial espionage? Midnight uses MPC to cage the power of God. We are all talking about "selective disclosure" and the compliance narrative of showing data to regulators using the viewing key. But if I were to present this scheme to the CTO of a Swiss private bank today, he would definitely think I’m crazy. Because if the Viewing Key is a complete whole, as soon as a hacker breaks into the corporate server and steals the key, all the company's secrets are exposed on the dark web. Handing over the "power of God" to any single point of failure is an engineering disaster.
The fundamental barrier to institutional large funds entering the market is not privacy, but the "single point risk of the God who holds the key." @MidnightNetwork has proposed a hardcore redemptive solution using MPC (multi-party computation) to manage the keys. It completely destroys the "complete God key," shattering the Viewing Key into several shards, which are jointly held by the enterprise, regulators, and an independent third party. Only by reaching cryptographic consensus can we collaborate to perform decryption computations. It is both compliant and reasonable, while firmly holding the commercial trump card. Recognize $NIGHT , this is the highest level of defense against human greed and vulnerability at the underlying architecture level. #night
Regardless, I still need to write what needs to be written. Is the leak of the Viewing Key industrial espionage? Midnight uses MPC to cage the power of God. We are all talking about "selective disclosure" and the compliance narrative of showing data to regulators using the viewing key. But if I were to present this scheme to the CTO of a Swiss private bank today, he would definitely think I’m crazy. Because if the Viewing Key is a complete whole, as soon as a hacker breaks into the corporate server and steals the key, all the company's secrets are exposed on the dark web. Handing over the "power of God" to any single point of failure is an engineering disaster.
The fundamental barrier to institutional large funds entering the market is not privacy, but the "single point risk of the God who holds the key." @MidnightNetwork has proposed a hardcore redemptive solution using MPC (multi-party computation) to manage the keys. It completely destroys the "complete God key," shattering the Viewing Key into several shards, which are jointly held by the enterprise, regulators, and an independent third party. Only by reaching cryptographic consensus can we collaborate to perform decryption computations. It is both compliant and reasonable, while firmly holding the commercial trump card. Recognize $NIGHT , this is the highest level of defense against human greed and vulnerability at the underlying architecture level. #night
