NEW YORK, Feb. 13, 2019 /PRNewswire/ -- Unbound Tech today announced it joined the Enterprise Ethereum Alliance (EEA), the world's largest open source blockchain initiative. As a member of the EEA, Unbound will collaborate with industry leaders in pursuit of Ethereum-based enterprise technology best practices, open standards, and open-source reference architectures.
Unbound recently released an open source library for blockchain and crypto assets that protects cryptographic keys using the company's Secure Multi-Party Computation (SMPC)-based technology used by the Fortune 500. The release of its blockchain-crypto-mpc library on Git Hub positions the company as the first to bring the blockchain community a bank-grade security solution via open source.
Today's existing approaches for protecting crypto assets keys and secrets are repeatedly proven insufficient. For the first time, Unbound's blockchain-crypto-mpc library allows blockchain developers to create wallets and applications using a library that provides cryptographic foundations for resolving that ongoing challenge: the protection of cryptographic signing keys and seed secrets. Unbound's library harnesses the company's flagship technology that innovatively splits cryptographic keys into random shares which are located on separate machines and enables all operations to be conducted with the keys split.
"Unbound is committed to accelerate innovation by transforming the way in which digital assets are secured, addressing a fundamental challenge in the blockchain space," said Oz Mishli, vice president of products at Unbound. "We are pleased to join the EEA and look forward to playing an active role in several working and special interest groups."
With more than 400 member companies, the EEA membership base represents a wide variety of business sectors from every region of the world, including technology, banking, government, healthcare, energy, pharmaceuticals, marketing, and insurance. The EEA's industry-focused, member-driven working groups are each tasked with creating and delivering specific advancements to the development and use of Ethereum-based technologies.
About The Enterprise Ethereum Alliance
The EEA is an industry-supported, not-for-profit established to build, promote, and broadly support Ethereum-based technology best practices, open standards, and open-source reference architectures. The EEA is helping to evolve Ethereum into an enterprise-grade technology, providing research and development in a range of areas, including privacy, confidentiality, scalability, and security. The EEA is also investigating hybrid architectures that span both permissioned and public Ethereum networks as well as industry-specific application layer working groups.
EEA will collectively develop open industry standards and facilitate collaboration with its member base and is open to any members of the Ethereum community who wish to participate. This open-source framework will enable the mass adoption at a depth and breadth otherwise unachievable in individual corporate silos and provide insight into the future of scalability, privacy, and confidentiality of the public Ethereum permissionless network. For additional information about joining EEA, please reach out to [email protected] or visit www.entethalliance.org.
About Unbound Tech
Unbound Tech equips companies with the first pure-software solution that protects secrets such as cryptographic keys, credentials or other private data by ensuring they never exist anywhere in complete form. The Unbound Distributed Trust Platform stands as a new foundation for trust using secure multiparty computation to ensure secrets are always split into multiple shares and thereby eliminate any single point of compromise.
Adopted by Fortune 500 companies, Unbound's elastic and agile platform protects secrets on untrusted infrastructure and removes existing dependence on dedicated security hardware, delivering a novel approach to security and privacy designed for the digital era. Serving as an engine for uninhibited growth, it allows enterprises to gain new levels of control over their secrets on any cloud, server or endpoint, and opens new possibilities for digital innovation. Founded in 2014, Unbound has been recognized with numerous industry awards and named in multiple Gartner Hype Cycle Reports. Be Trusted. Be Unbound. Visit www.unboundtech.com.