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PayPal said Monday that it's acquiring Curv, a startup based in Tel Aviv that provides security infrastructure for digital assets and blockchains. The deal is meant to support PayPal's recent foray into cryptocurrency, including the launch of the company's new business unit focused on blockchain, crypto and digital currencies.
On its website, Curv explains that its "secret sauce" is the use of multi-party computation (MPC) protocols that eliminate the use of private keys for crypto storage. According to Curv, private keys are the single point of failure in public key cryptography.
The company said its MPC protocols leverage independently generated shares of cryptographic material, mathematics and cloud computing to prevent unauthorized access to digital wallets and provide a distributed way to sign blockchain transactions and manage digital assets.
Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/21st-century-innovative-technologies-and-developments/?&tag=Acquisitions
PayPal said Monday that it's acquiring Curv, a startup based in Tel Aviv that provides security infrastructure for digital assets and blockchains. The deal is meant to support PayPal's recent foray into cryptocurrency, including the launch of the company's new business unit focused on blockchain, crypto and digital currencies.
On its website, Curv explains that its "secret sauce" is the use of multi-party computation (MPC) protocols that eliminate the use of private keys for crypto storage. According to Curv, private keys are the single point of failure in public key cryptography.
The company said its MPC protocols leverage independently generated shares of cryptographic material, mathematics and cloud computing to prevent unauthorized access to digital wallets and provide a distributed way to sign blockchain transactions and manage digital assets.
Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/21st-century-innovative-technologies-and-developments/?&tag=Acquisitions