What is dMPC and how does it work?

Multiparty Computation (MPC) is a protocol that removes the need for private keys in signing transactions.

The MPC protocol is trustless meaning that, unlike other MPC vendors, Qredo does not hold an admin key. MPC nodes participate in the MPC protocol by using their own hardware-secured secrets to collaborate with other nodes to generate layer 1 deposit addresses and, more importantly, to generate signatures that allow assets to be moved from a Qredo Network controlled layer 1 address to an external layer 1 address. The deposit address and signatures appear as if they were created by a single private key, but they weren’t - there NEVER is a single private key.