MPC and other security mechanisms
Bitizen wallet has implemented one of the most secure technologies used in the cryptography area called Secure Multi-Party Computation (MPC or SMPC), which provides institutional level security for the ordinary users. With MPC protocol, it removes any risks of being hacked as it replaces the key vulnerabilities of all traditional hot and cold wallets: private keys and seed phrases. Being keyless and seedless, Bitizen wallet has no single point of failure, becoming even more secure than a hardware wallet.
Users never have to learn what are the private keys and seed phrases, as they never exist in Bitizen. Instead, Bitizen has other secure ways to create, backup and restore the wallet, making it practically unhackable. Besides, we only store the minimum amount of information, and all users’ data is totally encrypted by user-owned key, which makes it useless for anyone who may try to steal it.
Bitizen does not store users’ funds and has no access to them, giving its users full control over their assets, making it censorship-resistant.