Introducing Liquid MPC Technology: An Evolution in Crypto Wallet Security

Deposit wallet addresses have changed, for the better!

Liquid is excited to announce a major upgrade to our platform security: Migration of our wallet infrastructure to state-of-the-art Multi-Party Computing (MPC) wallet technology is now complete, representing a significant milestone in improving security.

This upgrade does require allocating new deposit wallet addresses. Please update your address book! Liquid will continue to service old deposit addresses during a limited transition period, though deposits may be delayed.

Why the Change?

Typically, cryptocurrency exchanges will use what are known as “cold wallets” to store users’ funds. Cold wallets are considered to be secure as they are not connected to the Internet and thus are not vulnerable to having their keys intercepted.

Nonetheless, the fact that the cold wallets still have a single, whole security key is a vector of potential attack - a vector that MPC wallets eliminate, as no single entity has access to the private key that protects the funds of our users. As a result, security is improved against both external and internal attack vectors.

Liquid continues to maintain an exceptional security record throughout its six years of operation. We are committed to continually improving our security posture, providing the most advanced security possible to protect the interests of our users. Investment in MPC technology is a reflection of our embracing of technological innovations.

Which Coins Are Affected?

The schedule for the wallet upgrades can be found below:

15th of July update (15:00 JST):
BTC, ETH, BCH, XRP, BTCV, All ERC-20’s.

1st of August update (15:00 JST):
LTC, TPAY, KMD, RFOX, ZEC, DASH, QTUM, XEM, FCT, XLM, NEO, XLM, SIX, HOT, WLO, TFT.

Please note that deposits to the old wallet addresses will still be supported until August 31st.

What Do Liquid Users Need to Do?

The main impact that users will see is a new address for each respective cryptocurrency as they are rolled out. This new address can be seen and recorded by looking at the wallet address on the Deposit Wallet section of the Liquid exchange interface.

Liquid will maintain support of deposits made to old wallets until August 31st. We strongly recommend all Liquid users note and begin using their new addresses as soon as they are issued.

Peace of mind

You can rest easy knowing that Liquid is leading the industry by upgrading its wallet security infrastructure with MPC technology. In six years of operation, Liquid has kept client funds completely safe - and that’s a record we’re going to keep.

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All guest authors’ opinions are their own. Liquid does not endorse or adopt any such opinions, and we cannot guarantee any claims made in content written by guest authors.

This content is not financial advice and it is not a recommendation to buy or sell any cryptocurrency or engage in any trading or other activities. You must not rely on this content for any financial decisions. Acquiring, trading, and otherwise transacting with cryptocurrency involves significant risks. We strongly advise our readers to conduct their own independent research before engaging in any such activities.

Liquid does not guarantee or imply that any cryptocurrency or activity described in this content is available or legal in any specific reader’s location. It is the reader’s responsibility to know the applicable laws in his or her own country.

WRITTEN BY

Liquid

Providing liquidity for the crypto economy.