Nice one, more people will see my private keys and they will store it somewhere "safe", the customers of this firms are going to be experiencing a Mt. Gox like incident and they don't know it yet but it will definitely happen. I don't get the point of not safekeeping your own private key, I mean what part of the word "private" do they not understand?
I'll only take the good news about PayPal purchasing the firm as it's a crypto firm but I do agree with what you're thinking. I have read what does it mean for them but I'm still confused about their business model.But maybe you'll get some idea about its description about the MPC technology that Curv offers.
The company offers multiparty computation security technology that it says is a critical requirement to transfer, store and manage any digital asset safely on any blockchain or distributed ledger. Curv’s keyless MPC technology and tech stack enables the delivery of customized digital asset security solutions that are both scalable and adaptable with support hot, warm and cold wallet configurations as well as all tokens and protocols.
Traditional public key infrastructure on blockchains offer single private keys for access, creating what Curv argues introduces a single point of failure. MPC eliminates private keys, signing every transaction in a secure, distributed way to protect against cyberbreaches, physical damage and insider collusion. The technology is described as more efficient and lower cost than multisignature wallets by simplifying management, network fees and hidden gas costs. Customers using Curv’s MPC technology save 60% to 70% in transaction costs, the company said.
Traditional public key infrastructure on blockchains offer single private keys for access, creating what Curv argues introduces a single point of failure. MPC eliminates private keys, signing every transaction in a secure, distributed way to protect against cyberbreaches, physical damage and insider collusion. The technology is described as more efficient and lower cost than multisignature wallets by simplifying management, network fees and hidden gas costs. Customers using Curv’s MPC technology save 60% to 70% in transaction costs, the company said.
With this acquisition, PayPal is getting ready for a better service that they can offer. I hope that they'll improve.
