Poof Payments is pleased to announce the launch of an open-source implementation of Multiparty Computation (MPC) wallets, ingeniously integrated with Shamir Secret Sharing (SSS) for the XRP Ledger.
This milestone development, “backed by the XRP Ledger Grants program, seeks to accelerate the momentum of secure cryptocurrency self-custody, in both the XRP ecosystem and the open crypto economy.”
MPC wallets allow multiple parties “to collaboratively recompute private keys and digital signatures, enabling the facilitation of blockchain transactions without asset custody.”
By introducing an open-source MPC wallet infrastructure for XRP, Poof is “providing a free-to-use secure payment server that enables the creation of institutional-grade self-custody wallets, payment processing applications, and the foundation for on-ramps, off-ramps, and crypto exchanges in the XRP Ledger ecosystem.”
Poof releases Open-Source MPC Wallet for the XRP Ledger
The XRP Ledger, “an open-source, decentralized blockchain technology, is the backbone of XRP, the native digital asset.” The technology reportedly “facilitates fast, cost-effective international transactions.” The XRP Ledger provides “the robust infrastructure that Poof Payments’ new open-source MPC wallets leverage.”
The implementation by Poof will be “released on Github under the Apache 2.0 license, an open-source software license.” Available libraries can be found on https://docs.poof.io.
The initiative, bolstered by funding from the XRP Ledger Grants, illustrates “the program’s unwavering support of novel, high-impact projects that substantially contribute to the XRP Ledger ecosystem and the digital assets domain.”
As noted in the update, Poof Payments, Inc. claims it is “a leading web3 payments infrastructure that specializes in cryptocurrency wallets and digital payments.”
The company says that it is “pioneering the democratization of secure digital asset management.”
The XRP Ledger (XRPL) is “an open-source, public and decentralized Layer 1 blockchain led by a global developer community.”
It is fast, energy-efficient, and reliable. For more than ten years, it has been “the blockchain best suited to enable settlement and liquidity of tokenized assets at scale.”