Unlocking tomorrow: Outlook for MPC in 2024 and beyond

Unlocking tomorrow: Outlook for MPC in 2024 and beyond

The need for a decentralized exchange (DEX) with a sealed bidding inspired the first practical application of the multiparty computation (MPC) technology, which was theorized some 20 years earlier. Partisia addressed the urgent need to reallocate production rights among sugar beet producers in Denmark in 2008. Fifteen years ago, Danisco, the sole Danish sugar producer, recognized the value of the MPC-based DEX solution and created a stepping stone leading to the creation of Partisia. Over the years, Partisia and, later, Partisia Blockchain expanded their offerings based on the MPC technology, developing secure auctions for the telecom and energy sectors, key management for general use and data analytics that forms a new beginning for the data economy.

A broad vision of MPC’s potential to improve resource allocation across various sectors, Partisia Blockchain’s focus on data, encompassing encryption keys, crypto assets, online identities, health records and more remain central to its appeal. In a world of large data, Partisia Blockchain champions decentralizing transparency, confidentiality and preserving privacy. Thus, transforming the data economy and to empower individuals to control their data and foster a new era of data ownership.

Looking further ahead, Partisia Blockchain envisions further advancements based on the MPC technology, including exploration into quantum computing, where the combination of MPC and blockchain may be instrumental for secure outsourcing to quantum computers. In 2024, MPC technology will transcend its niche status and become a fundamental technology that underpins the secure and collaborative digital future. The below list highlights the diverse and transformative impact MPC will have across various industries in 2024 and beyond, safeguarding privacy and revolutionizing the way we handle sensitive data.

Mainstream integration: MPC technology will become a mainstream term as more industries and businesses adopt this technology to secure sensitive data. From finance to healthcare, MPC will be a pivotal player in safeguarding digital assets and privacy as privacy protection becomes central in legislative, corporate and user environments.

More secure decentralized identity solutions: MPC will play a pivotal role in shaping decentralized identity solutions. In 2024, individuals will have greater control over their digital identities, reducing the risk of identity theft and enhancing overall online security.

MPC in blockchain networks: More blockchain networks will integrate MPC protocols to enhance privacy and security. This integration will not only bolster the confidentiality of transactions but also contribute to the overall scalability and efficiency of blockchain platforms.

Quantum-ready MPC: Acknowledging the future potential of quantum computing, the right type of MPC solutions are already quantum-resistant. Partisia Blockchain’s exploration into quantum computing will pave the way for an integration of MPC with quantum technologies, future-proofing the security of data transactions.

Growth in financial sector adoption: Financial institutions will lead the charge in implementing MPC solutions to protect sensitive financial transactions and customer data. Expect to see a surge in MPC-powered secure enclaves for financial data processing.

Faster and more ethical healthcare research: The healthcare industry will witness a paradigm shift with MPC, as medical researchers and institutions leverage its capabilities for secure collaborative research without compromising patient privacy. This will expedite the development of breakthrough treatments and therapies.

Expansion of scalable DeFi beyond blockchain and crypto: DeFi will continue evolving beyond the blockchain industry. MPC based solutions will help address financial inclusion challenges, as well as scalability and front-running, leveraging advanced encrypted computation and collaborative solutions, with an emphasis on financial inclusion, regulatory compliance, and interoperability.

Edge computing security: As edge computing becomes more prevalent, MPC will be at the forefront of ensuring secure computations at the edge. This will be particularly crucial in industries such as IoT, where data are secured and processed locally.

Standardization initiatives: International standardization bodies will actively work on establishing industry-wide standards for MPC implementations. This will lead to interoperability among different MPC solutions and foster a more cohesive and secure digital ecosystem.

AI and machine learning acceleration: The marriage of MPC and artificial intelligence/machine learning will see unprecedented growth. Privacy-preserving machine learning models, trained collaboratively across different parties without revealing individual datasets, will become the new norm, fostering innovation in AI research and applications.

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Roadmap Spotlight #6: Simplified node operations

Roadmap Spotlight #6: Simplified node operations

At present, it requires a fair amount of technology knowledge to build and support a node in PBC. While many who do not have a technology background have been able to build and maintain nodes, it still creates a barrier that many individuals or organizations feel hesitant to cross. The other challenge is the current staking and job association process. Because the staked MPC tokens in a node are being used as collateral for all the types of jobs the node is running, unstaking and unassociating tokens that are being used can be a challenge.

This is why we are putting focus on implementing a simpler node setup and operations process. This will allow easier setup of nodes as well as easier associating and dissociating of your tokens.

These new features will be rolled out in phases, with the first one being automatic node registration. A simplified registration process will be rolled out where just the configs on your node will kickstart the KYC/KYB and the registration process.

Second phase of the project will be to simplify the association and dissociation of your staked tokens. It will all be a part of our “Staking 2.0” model, which will look to make it easier and less restrictive for both node operators and delegated stakers to manage their stakes.

Running a node will still require some level of technical skill. We hope by automating some of the process, it will make it less confusing and easier for the registration process.

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Roadmap Spotlight #5: New Smart Contract Features

Roadmap Spotlight #5: New Smart Contract Features

As we continue to see development occurring on our blockchain, we are always on the lookout for feedback on how to improve our platform, either to make it easier for developers to develop on, or to add new functionalities to help improve the product offering by the teams developing on our chain.

In the last 6 months we’ve been listening to the developers and have been working on various new functionalities and features that should help improve the quality and functionality of the projects. Some of them came in the form of development tools which we reviewed last week.

In this article, we will review the new feature sets that are upcoming to help developers improve upon the existing features or add new functionalities.

Some of these features will also create new use cases for the MPC tokens

Improvements in the PBC as a Second Layer Functionality

One of our main value propositions is our cross-chain bridge (Hermes). This unique bridge and gas payment system allows other chains to be a usable asset in Partisia Blockchain. It is this bridge that allows other chains to call our MPC technology as a service and pay for it using their native coins. But at the moment the data that is transferred is through manual data attestation, and the transfer only occurs in one way (PBC -> EVM).

By implementing BYOC messages to be supportable, we will now implement a two way communication system. This allows for the smart contract writer to hook events that are happening in the EVM back to PBC. Through adding a MPC powered threshold key and tying our oracle servers to collateralize these data through MPC tokens, developers will now be able to create an automated bidirectional flow of data between the EVM and PBC. This opens up additional functionality, such as adding message information in NFTs and allowing them to be transferable cross chain, or sending and receiving of data during the actual bridging transfers.

Staking as an Insurance

Currently, once the funds inside a smart contract runs out, the contract gets deleted. We will be creating a new method to allow for SC owners to stake their MPC tokens as insurance to allow for these smart contracts to continue to live on even if the funds run out of the contract. This will allow for both a safety mechanism in the event funds do run out and also introduce another use for MPC tokens.

ZK Contract Lifetime Beyond 28 Days

Currently the data in a ZK contract lasts for 28 days. Going forward, we will introduce a way to allow for this data to be extendable to go past the 28 days through staking MPC tokens and re-funding the smart contract.

ZK Computation in Batches

This feature will allow for multiple ZK computations to be batchable so that you do not have to execute each and every computation one at a time.

Allow ZK Contracts to Control User Data

Currently the developers writing ZK smart contracts do not have flexible control of the Zero Knowledge data. Through this feature, we will allow for developers to have greater control of the type of data and the control of how the data will be used.

We hope that the above will both help improve the speed in which development can be done as well as allow for new features to be implementable by the developers.

As each of the items complete, we will make a separate announcement in our development channels.

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