Published Feb 14, 2023
By Qredo Team
What Qredo Loves in Crypto This Valentine's
At Qredo we have a lot of love for the blockchain ecosystem, and we want to wish each and every one of you a Happy Valentine’s Day.
Today needn’t just be about romance and flowers, it can also be a day for celebrating what it is that you love in the world.
In our case, we’re celebrating what we love in crypto, what initiatives and movements we love that are part of the developing landscape of blockchain technology.
What do you love in crypto? Here’s where our heart lies.
Quickly gaining in popularity, ZK rollups are a great thing for the space.
ZK rollups are Layer 2 scaling solutions which improve on throughput by doing a large proportion of their computation off-chain. They then provide summarized data on Layer 1 along with cryptographic proofs.
Zero knowledge proofs, a fascinating and complex area of mathematics, are very closely interlinked with the technology behind Qredo’s secure self-custody provision, decentralized multi-party computation (dMPC).
A zero-knowledge proof allows a proof to occur without revealing any other information. Multi-party computation permits the computation of encrypted values, truly something game changing.
Qredo aims to democratize access to this technology and make it truly decentralized.
If you don’t love and take care of yourself, how can you care for others?
The same is true when it comes to digital assets. Taking true care of your finances begins, in this new digital age, with making sure your own home is in order, and that you yourself truly have custody of your own digital assets.
We’ve seen how out of hand things can get when we trust major entities like FTX to take care of custody matters.
More recently, one only needs to look at the recent controversy surrounding the status of BUSD potentially being classed as a security to see that centralized storage of your digital assets is hardly bulletproof.
Then on the other hand, single points of failure like private keys kept on paper, or hardware wallets that can be lost, also have major security holes.
Qredo walks the line between these, by providing the infrastructure for you and your team to have distributed custody of your own digital assets, with customized policies defining how asset management is controlled, which can help prevent lockout and human error severing you from your assets.
But no one ever has access to the digital assets held in your Qredo Wallet except for you and your team. Not Qredo, nor any third party.
The future of digital assets has self-custody at its heart. That’s where we intend to be too, right at the ever-loving heart of secure decentralized finance.
Qredo has been writing love letters to open source since our early days.
What’s not to love about a technology that is community-led, decentralization-enabling, and that, through being open and publicly contributed, enhances its ultimate security and robustness?
We donated the core of our mathematical engine to the Apache Foundation, within the podling project Apache Milagro, an open source project that implements cryptographic primitives and multi-party computation.
We did this to ensure that the core of our mathematics will be developed by an institution which has proved to be one of the best champions of OSS, and to ensure others can participate in the development as peers.
We fully expect, in so doing, that we will enjoy more academic and industrial contributions to our code and ensure better speed for development, enhancement of features and security.
We love open source at Qredo, and you can expect much more from us on this subject!
We’ve been making major moves in our love affair with cloud technology lately.
We recently took a step which will take our infrastructure to new levels of efficiency, robustness and scalability – the migration of our validator nodes to cloud-based Trusted Execution Environments (TEEs).
This is a crucial step on our pathway to going multi-cloud, and also on our roadmap to decentralizing our validator nodes. We are also upgrading our dMPC software and infrastucture to run on cloud TEEs this month. Don’t you just love it?
Many excellent minds in the blockchain space have known for some time, that whilst heterogeneity and variety are vital for a thriving, healthy sector, interoperability is vital when working within a diverse ecosystem of blockchains.
Qredo has been deeply committed to the importance of crosschain interoperability, and we’ve made a lifelong promise to be faithful.
We know that bringing the whole ecosystem forward using state-of-the-art cryptographic technology will only be possible through embracing, and connecting users, across the wide gamut of incredible blockchains out there.
We plan to integrate all major chains with our Layer 2 network over time, a major commitment indeed. Thanks to our amazing integrations with MetaMask Institutional and WalletConnect, we already support the entire EVM Ecosystem.
There’s one more thing we just have to tell you
We can’t end this love note without telling you one more thing – maybe the most important of all – that we love you, our community.
You've been with us through our development, borne with us through the bear and you’re ready for a new crypto cycle. We’re ready for it too, with so much to come for Qredo and for Qredonians in 2023.
Together we can secure the future of blockchain, and what’s more, we couldn’t do this without you.
Happy Valentine’s Day from Qredo. We can almost feel spring in the air.