Blockstream launched an institutional Bitcoin custody solution developed with the French technology group Thales. It combines Thales’ hardware security modules with Blockstream’s Secure Multi-Party Computation technology to authorize transactions without exposing sensitive cryptographic operations to connected systems. According to the company, the entire signing protocol runs within the protected environment of the hardware modules, unlike some existing multi-party computation architectures. Adam Back, Blockstream’s co-founder and chief executive officer, argues that such complex protocols are poorly suited to offline storage and advocates disconnected signing systems to reduce the risk of unauthorized access. He cited the $6.3 billion Binance hack as an example of the dangers of Internet-connected equipment and said artificial intelligence could make it easier to find flaws in complex systems.
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