MPC is good to help crypto wallets achieve keyless
, somehow there is a concern around platform dependency
#64
johnnynanjiang
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Private keys are hard and risky to manage for crypto wallet users, somehow there is a major benefit of private keys, which is portability. You can import your private keys from a crypto wallet to another one, and would still be able to manage your assets.
But for crypto wallets built on current MPC protocols, the user actually relies on a particular vendor’s solution. It is nearly impossible to port the wallet to another MPC wallet as there is no private key to import / export, and the key share sining implementations might be completed different.
I can’t see any possibility of solving this issue with current closed-source MPC solutions, other than transferring all the assets from one wallet to another. That is why open source / open architecture / open infrastructure are quite important so that the user can rebuild the wallet app in order to access his assets if the vendor’s wallet is no longer available. So that as long as the open wallet API protocol is up and running, the user should be able to access his assets by calling the APIs by all means. That is the point of open wallet architecture.
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