MPC Wallet
Overview of working of MPC Wallet
The Multi-Party Computation (MPC) wallet enhances security by decentralizing key management. Using Shamir's Secret Sharing (SSS) and AWS Key Management Service (KMS), the wallet ensures robust encryption, secure storage, and reliable key recovery.
Key Features:
Secure Key Generation: Uses Web3py with Python to create public/private key pairs.
Key Splitting with SSS: The private key is split into four shares, requiring all shares for reconstruction, enhancing security.
Secure Storage:
-Backend Share: Stored encrypted in PostgreSQL, backed up with AWS KMS.
-User Share: Encrypted with a 12-word BIP-39 recovery phrase.
Key Recovery: Combines user-provided recovery phrase and backend shares using Lagrange interpolation to reconstruct the private key.
Key Processes:
Encryption: Backend shares are encrypted with a data key from AWS KMS.
Decryption: Recovery involves decrypting the user key (via the recovery phrase) and backend key (via AWS KMS) to reconstruct the private key.
Security and Reliability:
Four shares are required, preventing unauthorized access if a single share is compromised.
Encrypted storage and AWS backups ensure data resilience and security.
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