Organizations look toward multiparty computation to advance Web3
Multiparty computation is being leveraged to ensure private key security and decentralization within Web3 platforms. But why use it? Protecting user data and private keys is crucial as Web3 advances. Yet, the number of hacks that have occurred within the Web3 space in 2022 alone has been monumental, proving that additional security measures, along with greater forms of decentralization, are still required. As this becomes obvious, a number of organizations have started leveraging multiparty computation, or MPC, to ensure privacy and confidentiality for Web3 platforms. MPC is a....
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MPC is a regulated, fee-centric model that is almost an exact replica of today’s banking system. Every once in a while, the crypto community crowns a new king for secure transactions, and the latest king seems to be multiparty computation, or MPC. This year, MPC adoption by custodial and noncustodial players has progressed and gained market traction at a rapid pace.However, it could come at a price. MPC providers offer regulators a backdoor into cryptocurrency transactions. As the industry becomes more reliant on MPC for security, it could end up compromising on the long-held principles of....
Web3 companies continue to hire amidst a bull market as tech giants undergo layoffs and hiring freezes. As inflation continues to grow, coupled with a looming recession, many tech firms are having to cut portions of their staff. To put this in perspective, data from Layoffs.fyi found that over 700 tech startups have experienced layoffs this year, impacting at least 93,519 employees globally. It has also been reported that tech giants like Google, Netflix and Apple are undergoing massive job cuts. While many of these layoffs are likely due to an economic downturn, this has resulted in an....
A new report shows that 65% of the 1,450 Web3 organizations are based on native blockchain technology, while 35% of the organizations are based on non-native technology. United Arab Emirates (UAE) has emerged as one of the fastest-growing destinations for Web3 projects, thanks to the initiatives taken by its government.A recent research report published by the Web3 platform Crypto Oasis Ecosystem highlighted the dominance of UAE in the Web3 economy as it identified more than 1,450 active Web3 organizations with nearly 7,000 individuals.The report divided Web3-based projects into two....
Web3 has taken huge strides towards a fully self-sustaining ecosystem of peer-to-peer transactions and frictionless finance this year. In order to develop a healthy web3 economy, new services like Automata Network will help fulfill the wide list of market demands like private computation. Automata Network is described as the last piece of the web3 puzzle, […]
New Zealand-based venture capital firm Global From Day 1 (GD1) recently said it had launched a $5 million Web3 and crypto-focused venture capital fund to back local startups. The fund will invest in pre-seed to Series A companies across decentralized finance (defi), decentralized autonomous organizations (DAOs), non-fungible tokens (NFTs), and Web3.
GD1’s Web3 and Crypto Strategy
In a boost for New Zealand-based startups and local investors, GD1 has launched a $5 million Web3 and crypto-focused venture capital fund. The fund, known as GD1 Crypto Fund 1, will be led by....