The Team Who First Applied Mpc to Crypto Is Building Defi on Bitcoin
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Editorial Note: The following content does not reflect the views or opinions of BeInCrypto. It is provided for informational purposes only and should not be interpreted as financial advice. Please conduct your own research before making any investment decisions. Spatium, a developer of Wallet-as-a-Service products for neobanks and exchanges, launches its own solution designed to enable DeFi on Bitcoin. The Multi-party Computation (MPC) chain, built by Spatium, empowers non-custodial wallet, cross-chain P2P, staking and lending on top of Bitcoin blockchain. The wallet will be available on iOS and Android platforms in February with other features coming later this year. Spatium was the first to apply MPC to non-custodial wallets in 2017 and since then has been simplifying Web3 experience without compromising the security. “Our journey began with a commitment to simplicity and security in 2017, and today, we are thrilled to introduce our own vision of Bitcoin DeFi powered by MPC,” announced Vasili Paulau, CEO at Spatium. The wallet combines functionality and simplicity, making cryptocurrency accessible to a broader audience. Seed phrase is replaced with social logins and cloud backup. It brings the support of BRC-20 token standard and ordinals to all enthusiasts. Future plans include feeless transactions, MPC-powered staking and lending. “As of today, users that want to exchange Bitcoin for Ethereum have to use centralized solutions with full trust of funds to third parties or use atomic swaps which cost a lot. Our first step towards the DeFi would be pioneering P2P cross-chain swaps on top of Bitcoin, powered by MPC. They deliver a 1.8x reduction in blockchain fees compared to other decentralized alternatives and are designed with zero-trust”, notes Vasili Paulau, CEO at Spatium. With a focus on easy onboarding, seamless yet secure backup processes, feeless transactions where blockchain commission is paid by any token, blockchain agnostic…
Filed under: News - @ February 21, 2024 10:14 am