Crypto needs better self-custody: This platform is solving it

cointelegraph.com:

While Bitcoin (BTC) offered the world an era of true decentralization, the introduction of centralized exchanges and custodial services has lured people away from the original premise of crypto — trustlessness and self-custody. However, the collapse of major crypto exchanges such as FTX acted as a bitter reminder of the importance of the “Not your keys, not your coins” mantra, triggering an exodus from centralized platforms to noncustodial solutions.

With most self-custody or noncustodial storage options, the private key to a user’s crypto asset is stored and controlled by the user themselves, whereas custodial services simply take those assets and give users an “I owe you” before they withdraw their assets from the platform.

Noncustodial solutions align better with the overall philosophy of crypto, but they are not foolproof. Hardware wallets, a prominent method of “cold storage,” allow for offline storage of crypto private keys. Still, they are exposed to the same risk of theft, exploitation and loss of access as a traditional physical wallet. The recent service update from hardware crypto wallet company Ledger revealed that hardware wallets can also have a “backdoor” for seed phrase recovery purposes.

Individual crypto users are still struggling with comprehending how to protect their private keys to ensure that their assets remain safe and secure. Moreover, Web3-native teams face even greater difficulty in accessing shared funds due to the limitations of existing multisignature (multisig) solutions. In the last several years, multi-party computation (MPC) has emerged as the gold standard in secure self-custody, but the way in which it is deployed still has some significant security vulnerabilities. The custody