Merlin Chain utilizes the Cobo MPC for custody management, ensuring the security and non-custodial handling of funds within the Merlin's Seal.
The Cobo MPC solution employs advanced multi-party custodial technology and threshold signature schemes. This ensures that private key sharing is individually generated, encrypted, and distributed among parties in a secure environment. These parties collaborate to sign transactions without disclosing personal key shares.
During cross-chain transactions or locking periods within Merlin Chain, assets from Bitcoin Layer1 are securely stored in the MPC wallet. This wallet is jointly managed by Merlin Chain and Cobo, with risk policies defined by Merlin Chain and Cobo prior to signature issuance, providing institutional-grade security for Merlin Chain.
Merlin also has a decentralized staking node program. Third parties can apply and join the program by providing secure, decentralized staking nodes. These nodes will also stake Bitcoin and other assets, adhering to Merlin's Seal scheme and future plans. More information will be updated.
This approach ensures that private keys are never stored or reside on any single device, effectively eliminating the risk of single points of failure. This robust system protects user assets from potential attacks and human errors.
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Merlin Security Council, sponsored by MerlinChain, partners with leading security firms and white hats to protect the Merlin ecosystem. The Foundation will fund research, education, and tech development for security enhancements. Together for a safer future.