everPay collaborates with Safeheron to increase security performance by 47 times
everPay, the real-time financial protocol on Arweave. Safeheron, a cryptography and blockchain security company, announced a strategic partnership. This collaboration will enhance the decentralization level and asset security for Arweave assets on everPay.
Currently, one of the critical roles in the everPay network — Watchmen, which manages the assets locked by users through proposals, uses threshold signature keys generated by ExecuteHub on a centralized server. In addition, Arweave wallets are currently available with a minimal library of thresholds, making it difficult to manage multiple signatures for Arweave assets.
Safeheron has implemented and open-sourced the TSS-RSA (Threshold Signature Scheme of RSA) algorithm library to reduce further risk of key compromises, which will resolve all problems stated above. It has the ability to shorten the private key shards’ generation time from 30 minutes to 0.5 minutes, with a performance improvement of nearly 47 times. They will soon launch the TEE-Based RSA Key Shard Service to be the solid security infrastructure for everPay and the whole Arweave ecosystem.
outprog, Founder & CEO of everPay said:
Safeheron is a professional team with years of research in cryptography, and the Arweave ecosystem has access to Safeheron’s solution, which will truly decentralize assets and enhance asset security as well as liquidity. The liquidity of digital assets represents the flow of value, and the purchase of AR and PSTs through decentralized means reflects the value of blockchain. This makes permanent storage along with the Arweave app more global and easily available.
Safeheron CEO Wade Wang said:
As a team at the forefront of cryptography and blockchain security for many years and committed to openness and transparency, we are very happy to help everPay implement its decentralization with the TEE-based RSA key shard service, and provide solid security support for everPay and the whole Arweave ecosystem. We look forward to participating more in private key security infrastructure building in the Arweave ecosystem, together with developers, to eliminate the single point of failure on the private key, enhancing asset security.
everPay is a trusted cross-chain financial protocol built and based on the Arweave Blockchain using a Storage-based Consensus Paradigm (SCP) proposed by Outprog, the founder and CEO of everFinance. This new paradigm enables transaction costs on everPay to be super low, with thousands of transactions costing as little as 0.05 USD. In addition, everPay has no TPS limit. Learn more: https://everpay.io
As a leading digital asset secure custody solutions provider, Safeheron was founded by a team with more than a decade of experience in cyberattack defense and cryptography using multi-party computation (MPC) with trusted computing (TEE) to secure and protect digital assets from their generation to storage and transfer. Safeheron’s flexible policy engine enables fine-grained customization of secure digital asset usage approval flows under zero-trust security architecture making sure that the Safeheron system is always safe.
Learn more: https://www.safeheron.com
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