Sat. May 25th, 2024

TLDR:

  • Bitget has upgraded the security of its platform wallets through the implementation of Multi-Party Computation (MPC) technology.
  • MPC aims to enhance wallet protections by using distributed computing, homomorphic encryption, and Trusted Execution Environment (TEE).

The article highlights that Bitget, a cryptocurrency exchange, has upgraded the security of its platform wallets by implementing Multi-Party Computation (MPC) technology. This technology aims to boost wallet protections by utilizing distributed computing, homomorphic encryption, and Trusted Execution Environment (TEE). The TEE provides hardware-level security to fortify the wallet infrastructure. The implementation of MPC technology involves dividing private keys into segments across multiple servers, allowing transactions to occur without keys being revealed in one place. Bitget has been focused on implementing new security solutions, previously launching an MPC-enhanced wallet to protect users’ digital assets.

The article also mentions that Bitget has introduced new features to enhance its offerings. In 2023, the crypto exchange introduced an upgraded copy trading system called “Smart Copy Mode,” which enables users to allocate investments and execute trades based on their total assets. This feature aims to simplify the copy trading process and help novice traders invest more strategically. Additionally, Bitget Wallet, formerly known as BitKeep, launched an artificial intelligence-powered “Smart Money” tool that tracks high-performing crypto addresses to identify potential signals and trends. The goal is to empower users to discern market trends and uncover investment opportunities.

The article further notes that Bitget saw significant growth in 2023, with its user base more than doubling from 8 million to 20 million users. The company also expanded its team to support this growth, currently employing over 1,500 individuals. Bitget’s 2024 report showed a 94% increase in crypto spot trading volumes on the exchange compared to the previous year. Overall, Bitget’s focus on security upgrades and introduction of new features demonstrates its commitment to providing a secure and reliable platform for cryptocurrency trading.

Related Post