dWallet Labs Announces Launch of Secure Web3 Multiparty computation (MPC) Network Odsy

dWallet Labs, a cybersecurity company focused on blockchain technology, has made a significant announcement regarding the development of the Odsy Network and the dWallet primitive. The company has unveiled Tiresias, a groundbreaking work that enables the application of massive-scale threshold Paillier settings in real-world scenarios. This breakthrough opens up the possibility of performing secure multiparty computation (MPC) among thousands of participants in a trustless manner. By releasing the implemented code alongside the paper, dWallet Labs demonstrates how thousands of parties can execute numerous operations within seconds.

In Web3, MPC and threshold cryptography play crucial roles in securing assets and eliminating the vulnerability associated with private keys. Rather than relying on a single private key, MPC protocols in Web3 generate ECDSA signatures using a threshold of parties. Various state-of-the-art Threshold ECDSA protocols, such as Lindell’s, Gennaro and Goldfeder’s, and MPC-CMP, are utilized by financial institutions, users, custodians, wallet providers, and distributed networks within the Web3 ecosystem.

However, existing MPC protocols face limitations in terms of either requiring a trusted setup or supporting only a small number of participants. Yehonatan Cohen Scaly, CTO at dWallet Labs and Co-Founder of Odsy Network, emphasizes that the premise of Web3 demands strong decentralization, making both trusted setups and small participant numbers unacceptable. Currently, MPC implementations are restricted to a very small number of participants, typically in single digits. This constraint on decentralization hinders the full potential of MPC for Web3. While THORChain allows for the most parties with a threshold of ⅔, the limit of 20 participants falls significantly short of achieving true decentralization.

Web3 projects attempting to implement MPC in permissionless networks often resort to implementing it outside the permissionless settings, involving only a small subset of parties. The main challenge lies in the complexity of communication in existing state-of-the-art MPC protocols, which require unicast communication between participants. This means that every participant must communicate with every other participant, resulting in quadratic growth in complexity with each additional participant. The reliance on unicast communication severely restricts the number of participants that can be accommodated.

Tiresias: Greatly Reducing Complexity in Communication

To address these challenges, dWallet Labs introduces Tiresias, which replaces unicast communication with broadcast communication, reducing the complexity from quadratic to linear. Dolev Mutzari, VP of Research at dWallet Labs and co-author of the Tiresias paper, highlights the significance of this innovation, as it enables the integration of MPC protocols into blockchain settings while expanding the potential for protocols with hundreds, thousands, or even tens of thousands of participants.

In the current landscape, generating a single ECDSA signature in MPC can take minutes, even for a small number of participants. Existing algorithms also lack support for signature batching. For example, generating 1,000 signatures with 20 participants would take days, rendering them impractical for real-world scenarios. Furthermore, as the number of participants increases to hundreds, generating even a single signature becomes infeasible. Consequently, no decentralized network can generate threshold ECDSA signatures using state-of-the-art MPC algorithms.

As a significant development, dWallet Labs has released an open-source implementation of Tiresias in pure Rust. This implementation represents the first threshold Paillier implementation that does not rely on a trusted dealer. Benchmarking results demonstrate unprecedented speed, with 100 decryptions by 100 parties taking only 1.5 seconds, and 1,000 decryptions by 1,000 parties completed in 266 seconds. This breakthrough paves the way for large-scale permissionless networks to generate threshold ECDSA signatures.

Omer Sadika, CEO of dWallet Labs and Co-Founder of Odsy Network, expresses his excitement and pride in the research team’s achievements. He emphasizes the importance of dramatically increasing the number of participants in threshold protocols to realize the vision of dWallets and the Odsy Network. Furthermore, Sadika looks forward to sharing more breakthroughs as they strive to build the world’s first decentralized access control layer for Web3.

About dWallet Labs

dWallet Labs Ltd., headquartered in Tel Aviv, Israel, is a cybersecurity company specializing in blockchain technology. The company leads the research and development efforts behind the Odsy Network, aiming to build protocols, solutions, and provide professional services and support for organizations leveraging the Odsy Network. The team possesses extensive expertise in cybersecurity, cryptography, and blockchain technology.

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