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（David Bailey‘s tweets）
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(Netizens guess prime trust)
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(swan ceo recommends asset self-custody)
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Under the dilemma of centralized custody, are your assets still safe?
Traditionally, centralized custodians have been seen as a guarantee of asset security, and they are responsible for storing and protecting users cryptocurrencies. However, when these centralized institutions have problems, such as bankruptcy or internal management problems, users asset security will face serious threats. Users cannot control their own private keys, so they cannot fully control their own assets, and this risk is greatly magnified.
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So, how do you choose a safe and secure self-hosted wallet?
1. How does Cregis deal with the hosting party’s thunderstorm?
Cregis digital asset self-custody wallet utilizes the latest secure multi-party computation (MPC) and self-custody sharding management strategies to ensure the security of user assets and truly realize the self-custody of encrypted assets. Our users are in complete control of their own key shards and thus have complete control over their assets. Even in the worst-case scenario, such as the failure of the custodian company mentioned in David Baileys warning today, users assets are still safe.
2. How does Cregis respond to hacker attacks?
An added benefit of using an mpc self-hosted wallet is that even if a hacker somehow managed to break into a single MPC node, they would have no way of knowing the value of the collective output of all nodes. In order to take control of wallets secured by MPC, they would theoretically need to simultaneously launch an attack on the total number of devices required to sign transactions.
For example, if the number of shards is 10 and the threshold required to sign a transaction is 5, an attacker would need to break into more than 5 storage locations and steal key shards. Active security measures, such as key rotation that automatically moves updated sensitive private key material between nodes, make this more difficult. At present, Cregis uses this kind of measure. Users can update the new shard by resetting the shard, thereby improving the safety factor.
Assuming MPC is implemented on secure hardware, this simultaneous attack on multiple fronts makes MPC more secure than other private key storage methods such as hot and cold wallets with a single point of failure. In addition, the flexible governance supported by MPC reduces the possibility of inner ghosts accessing wallets and taking assets away.
3. How does Cregis prevent physical attacks and software vulnerabilities?
Cregis combines three Trusted Execution Environments (TEEs), SGX, TrustZone, and Nitro, to build a comprehensive encrypted isolation environment, which is separated from external memory and can effectively reduce related security risks. When the transaction is signed, multiple shards are calculated in the TEE to realize the isolation and protection of the core link of the transaction. Therefore, it is difficult for Cregis users assets to be lost due to third-party malicious behavior.
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