PR Newswire
12 Apr 2023, 18:30 GMT+10
Hooked Protocol, a pioneering AI-powered Web 3 edutainment network, leverages Cobo's MPC Wallet-as-a-Service (WaaS) solution to boost user asset security and operational efficiency
SINGAPORE, April 12, 2023 /PRNewswire/ -- Cobo, a leading global digital asset custody solutions provider, has announced its partnership with Hooked Protocol, a prominent Web 3 edutainment network with a focus on mass adoption, to integrate its MPC (Multi-Party Computation) WaaS (Wallet-as-a-Service) solution into Hooked Protocol's platform.
As part of the partnership, Hooked Protocol will leverage Cobo's MPC WaaS solution to strengthen user asset security and boost operation and development efficiency, empowering the protocol to onboard the next billion users onto Web3 securely.
Cobo's MPC WaaS utilises cutting-edge MPC technology to implement a Threshold Signature Scheme (TSS). With Cobo's MPC-TSS implementation, private key-shares are individually generated in secure environments, encrypted and distributed among multiple parties. These parties can then jointly sign transactions without ever exposing their individual key-share to one another or materialising the private key in full at any point in time. Cobo's MPC WaaS eliminates a single point of failure, insulating Hooked Protocol's assets from security attacks and human errors.
"This collaboration aims at providing Hooked Protocol with a powerful wallet infrastructure for custody and blockchain interactions to ensure the independence and security of the protocol and user assets," said Dr Jiang Changhao, co-founder and CTO of Cobo. "This is especially important in the current digital asset landscape, where centralised platforms increasingly face scepticism."
Cobo's MPC WaaS is built upon years of experience and technical know-how in delivering institutional-grade custody solutions. By leveraging Cobo's MPC WaaS, Hooked Protocol was able to deploy a wallet into their platform safely and seamlessly, while significantly minimising the cost of implementing a wallet infrastructure.
"We take the security of our users' assets and the safety of our platform very seriously. By partnering with Cobo, we can strengthen our platform's security while creating seamless Web3 onboarding experiences for our consumers," said Jason Y, Founder and CEO of Hooked Protocol.
About Hooked Protocol
Hooked Protocol is a pioneering edutainment network with the mission to onboard the next billions of users onto Web3 through immersive and AI-powered gamified learning experiences and robust on-ramping infrastructures. Hooked Protocol's debut DApp attracts more than 3 million monthly active users worldwide. Hooked Protocol was successfully listed on Binance Launchpad in 2022 and is supported by thriving global communities.
About Cobo
Cobo is a leading global digital asset custody solutions provider. Founded in 2017 and headquartered in Singapore, Cobo is one of the largest digital asset custodians globally, trusted by over 500 institutional clients across Asia, Europe, the Middle East, and North and South America, with billions of dollars in assets under custody. Cobo offers a comprehensive suite of custody technologies from full custody (HSM-based), and co-managed custody (MPC-based), to fully decentralized self-custody (smart contract-based). On top of custody solutions, Cobo provides Wallet-as-a-Service, SuperLoop (off-exchange settlement network), and Argus (on-chain DeFi investment tools with role-based access controls). For more information, please visit https://www.cobo.com.
Get a daily dose of Singapore Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Singapore Star.
More InformationROME, Italy: Italy's agricultural sector is bracing for a major hit as U.S. tariffs threaten exports of iconic products like Prosecco...
WASHINGTON, D.C.: Former U.S. President Donald Trump says he wants to cut federal funding for colleges that allow what he calls illegal...
CNN - In a recent interview with CNN's Christiane Amanpour, Canadian Foreign Minister Mélanie Joly expressed strong opposition to President...
NEWARK, New Jersey: Over the weekend, a FedEx Boeing 767 cargo plane hit a bird while taking off from Newark Airport. One of its...
WASHINGTON, D.C.: The Pentagon told its civilian employees that they must provide a list of five bullet points detailing their accomplishments...
MELBOURNE, Australia: An Australian warship rescued Lithuanian adventurer Aurimas Mockus this week after he became stranded in the...
NEW YORK CITY, New York: The company that makes Reynolds Wrap aluminum foil is facing a lawsuit for allegedly misleading consumers...
PONTEDERA, Italy: Italy's Piaggio, the maker of the iconic Vespa scooter, reported record-high core profit margins for 2024 despite...
NEW YORK, New York - U.S. stocks fell sharply at the open and stayed in the red for much of the day Friday, however as the day wore...
NEW YORK, New York - The U.S. dollar continued to come under pressure Friday with President Donald Trump's flip flops on trade tariffs,...
SEATTLE, Washington: Nordstrom delivered stronger-than-expected holiday-quarter sales and announced a leadership shakeup, with Chief...
MILAN, Italy: Prada CEO Andrea Guerra suggested this week that the Italian luxury brand is keeping its options open regarding potential...