Resilient Custody of Crypto-Assets, and Threshold Multisignatures

Vincenzo Di Nicola, Riccardo Longo, Federico Mazzone and Gaetano Russo
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Vincenzo Di Nicola: Conio Inc., San Francisco, CA 94105, USA
Riccardo Longo: Department of Mathematics, University of Trento, Povo, 38123 Trento, Italy
Federico Mazzone: Department of Mathematics, University of Trento, Povo, 38123 Trento, Italy
Gaetano Russo: Department of Mathematics, University of Trento, Povo, 38123 Trento, Italy

Mathematics, 2020, vol. 8, issue 10, 1-17

Abstract: Ensuring safe custody of crypto-assets, while at the same time allowing a user to easily access and transfer them, is one of the biggest challenges of this nascent industry. This is even harder considering also the multiple technological implementations behind each crypto-asset. Here we present a survey of the various solutions for this custody problem, comparing advantages and disadvantages. Then we delve deeper into some interesting schemes based on secure multiparty computation, which give a blockchain-agnostic solution that balances security, safety, and transactional ease of use, and in particular, a protocol that enhances practicality by exploiting a party that may stay offline during the key generation.

Keywords: custody of cryptocurrencies; digital assets; applied cryptography; threshold multisignatures; secure multiparty computation (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2020
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