Ran Canetti Featured in Fireblocks Article Announcing Advancements in MPC Technology
Fireblocks has made a recent advancement in the field of digital financial transactions management. An enterprise-grade platform, Fireblocks, has successfully developed a new algorithm for secured multi-party computation, referred to as MPC-CMP, that would speed up the processing of digital asset transactions. An article in Cision is about a recent advancement made in the field of digital financial transactions management. This new advancement is expected to enhance the capability of digital financial transactions processing systems and also increase the scope of online transactions.
Ran Canetti and the team of researchers at the Center for Reliable Information System and Cyber Security (RISCS) at the Hariri Institute for Computing, developed Fireblocks. An enterprise-grade platform, Fireblocks, has successfully developed a new algorithm for secured multi-party computation, referred to as MPC-CMP, that would speed up the processing of digital asset transactions. This protocol reduces the number of interactive rounds, which are involved in the processing of payments, by half and uses a specific distribution mechanism between pre-processing and non-interactive signing. The new protocol is eight times faster than other protocols created by Gennaro, Goldfeder, and Lindel and others. Fireblocks has put this protocol as an open-source, which would assist fintech firms, which can quickly adapt this protocol in their systems, in managing more significant numbers of transactions over disperse networks. The new protocol combines new aspects of cryptography and data security without comprising the efficiency of such systems. However, it could be highlighted that new protocols will continue to emerge as online businesses grow further at a phenomenal rate in the coming years.
Ran Canetti is a professor of Computer Science at Boston University and Director of the Center for Reliable Information System and Cyber Security (RISCS) at the Hariri Institute for Computing, who also helped support the development of Fireblocks. He holds a PhD from Weizmann Institute and specializes in multiple aspects of cryptography and information security. Canetti is also a Fellow of the International Association for Cryptologic Research. He has also worked as a researcher at IBM Watson and MIT and was a professor at Tel Aviv University.