Multichain Launched fastMPC Testnet Program

SINGAPORE, June 22, 2022 /PRNewswire/ -- From Apr 26 to Jun 6, Multichain's fastMPC Testnet Program was live. As of June 6, a total of 122 nodes signed up for the fastMPC testnet. Meanwhile, over 200 participants from Multichain's community have actively engaged in the discussions on node registration and network optimization.

What is fastMPC?

Secure Multi-Party Computation (MPC) network is the core technology underpinning Multichain, also the key to Multichain security model and mechanism. fastMPC, or MPC 2.0, is an upgraded version, it offers increased speed, better preformance and enhanced security.

1. fastMPC performs 4–5 times faster than MPC 1.0, which will contribute to more speedy and smoother cross-chain solutions and experience.
2. Rounds of internal and external audits have been made to make sure contracts do not have frequently occurred and high-risk bugs. Effective measures have also been taken to prevent dishonest nodes.

Why did Multichain launch fastMPC Testnet?

The purpose of the testnet program was to enhance the functional stability of the nodes for distributed computation in an extranet environment, and to validate all the technical and cryptographic designs of fastMPC to facilitate a seamless migration to the fastMPC mainnet, where all Multichain cross-chain bridge, router, and anyCall may operate smoothly and efficiently. More importantly, the launch of fastmpc testnet was a step towards Multichain's goal to enhance Multichain's further decentralization.

What is next?

Multichain is planning a phase 2 program with fastMPC to further optimize fastMPC network, which is expected to live very soon. More users will be able to participate in the node running and get involved in a fully decentralized with fewer technical skills required.

About Multichain:

Multichain, born as Anyswap on the 20th July 2020, is positioned as a fully decentralized Cross-Chain Router Protocol (CRP), an infrastructure supporting multi-chain ecosystem. Multichain envisions to be the ultimate router for web3. It has taken an absolute leading position in the cross-chain industry in terms of its rapidly expanding ecosystem map (53 supported chains and over 2,400 bridges), large DAU number, innovative product and high TVL totaled $3.2B.

SOURCE Multichain