Around a week ago everFinance announced the introduction of a key library that not only further decentralises one of its products – everPay – but it does it with incredible efficiency. Who was the team responsible for that cryptographical gem and what’s it all about? Well, you already know something if you read their announcement, but still, don’t you want to know more? We interviewed both everFinance and Safeheron to satisfy your curiosity and ours alike. Without further ado:
Q: Can you tell us more about Safeheron and its mission? There are many Web3 projects out there, but there are relatively few that are focused on actual R&D in cryptography. What’s the secret sauce for success in this field?
As a leading digital asset secure custody solutions provider, Safeheron was founded by a team with more than a decade of experience in cyberattack defense and cryptography. We apply multi-party computation (MPC) with a trusted execution environment (TEE) to secure and protect digital assets from their generation to storage and transfer. We provide all kinds of projects/institutions with flexible policy engines enabling fine-grained customization of secure digital asset usage approval flows. Also, based on the design and practice of the zero-trust security architecture, we make sure that our system is always safe.
Our mission is, committed to transparency & openness, to build a self-custody digital asset infrastructure that all enterprises can afford, letting the customers 100% control their assets, to provide open-sourced code and verifiable technology.
Being at the forefront of cryptography and blockchain security for many years, Safeheron has been committed to enhancing and enriching the native capabilities of blockchains and providing the best cryptographic practice in blockchain scenarios. That’s to say, we have rich experience in technology and engineering. And, with our passion for and persistence in blockchain security, with our dedicated exploration and study, we’ve always been in this subfield and to be the top.
Q: Some days ago, Safeheron and everFinance introduced an important piece of tech that further decentralises everPay’s protocol. Can you explain to a non-technical person exactly what this implementation is and why it is crucial for the future of Arweave?
Basically, in our solution, the whole generation of threshold signature key runs in a trusted execution environment with 100% no exposure of the private key which will be securely distributed to each member. Meanwhile, our solution largely shortens the generation duration, lowering it from 30 minutes to 30 seconds, on average. This is an efficiency improvement close to two orders of magnitude. The solution indeed implements trusted multi-party management from scratch that solves the ecosystem trust problem at the root, enhancing decentralization for Arweave.
Q: Right now, Arweave is perceived more as a storage solution by other blockchain projects than a one-stop, general-purpose Layer 1. Could the introduction of this TSS-RSA library change that?
Of course, there are very few financial applications on Arweave, and with the application of TSS-RSA, we can create more scenarios. Including the SmartWeave version of AR Token and the SmartWeave version of USDC, etc. More liquidity and financial services will allow more users to have access to Arweave permanent storage and attract more developers to the ecosystem to build.
Q: You open-sourced your TSS-RSA library, making it a resource available for the entire Arweave ecosystem. What are your thoughts about Arweave’s potential? Will you continue to strengthen your presence inside the ecosystem further?
Compared to existing mainstream blockchains, Arweave applies Storage-based Consensus Paradigm, or SCP. It’s an innovation that effectively solves the TPS congestion. This greatly enhances the user experience and makes more room for imagination. In the future, Safeheron team will provide more easy-to-use and optimized security infrastructure and competent solutions with rich functions for Arweave ecosystem, to grow together with Arweave.
Q: Can you disclose some of your future plans regarding your alliance with everFinance and what it will bring for Arweave? From a user standpoint, what will be the difference in processing times between using a EVM based DEX and everPay after this security performance update?
RSA keys are the only way to manage AR tokens today, and decentralized hosting of AR will be very difficult if only inefficient RSA threshold signing algorithms are available. Efficient computation can provide fast node addition and rollout for future everPay token PoS management. The experience of SCP application is obvious to everyone and will be far better than EVM application. Check out Permaswap.network for more information.
Q: In the last months, cross-chain bridges have been heavily targeted by hackers and are somehow considered a weak point for the entire blockchain ecosystem. Will your collaboration create a safer, more reliable way of bridging liquidity from one chain to another?
Yes, of course. We have already been working on the cross-chain bridge security solution and it’s assumed to be in the field pretty soon. We believe that, besides considerations on design, the secure cross-chain bridge solution should use MPC multi-signature to solve the problem of signature decentralization, and all protocols should be deployed in a trusted execution environment to ensure that each trusted node executes as expected and be effectively isolated.