Distributed Key Management refers to systems where cryptographic keys are generated, stored, and managed across multiple independent entities or nodes rather than a single central point. This approach enhances security by eliminating a single point of failure, making it more resilient against attacks and unauthorized access. In blockchain and digital asset systems, it is fundamental for securing private keys associated with wallets and transactions. It underpins the integrity and confidentiality of digital asset ownership and transfer.
Context
The ongoing challenge in distributed key management for digital assets involves balancing security with usability and recovery mechanisms. Debates frequently concern the trade-offs between self-custody solutions and managed services employing advanced cryptographic techniques like multi-party computation (MPC). Critical future developments include further standardization of protocols and increased adoption of robust, user-friendly distributed key management solutions for institutional and retail users.
This research integrates threshold signatures into Central Bank Digital Currencies, distributing key management to eliminate single points of failure and bolster security without compromising performance.
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