Non-profit organization Fusion Foundation has joined with highly esteemed cryptologists Rosario Gennaro, Professor of Computer Science at CUNY, Steven Goldfeder, Ph.D., Postdoctoral Researcher in the Department of Computer Science at Cornell University, Louis Goubin, Professor of Computer Science at University of Versailles and Pascal Paillier, Ph.D., CEO and Senior Security Expert at CryptoExperts – to work on a new Distributed Control Rights Management (DCRM) which will offer interoperability and a distributed custody solution.
“At the core of Fusion’s mission has been interoperability and building the highest grade secure distributed custodial solutions through our DCRM technology. We are privileged to be collaborating with four of the brightest and most creative minds in cryptography to validate, certify and help enhance our DCRM architecture,” stated Dejun Qian, Founder of Fusion. “Together, we plan to tackle decentralized secure custody and provide new, scalable, efficient and reliable solutions for the digital assets community.”
DCRM or Distributed Control Rights Management is a Fusion innovation that seeks to solve one of the blockchain community’s largest hurdles, interoperability. This is accomplished by using a decentralized approach to security. A private key is split into individual shards and then distributed to nodes within the network. The signing of the transaction takes place without requiring that the key be re-assembled. Applications for this revolutionary approach include decentralized custody and interoperability. Hardware Security Modules (HSMs) are also looking to DCRM to introduce scalability across all of the various crypto asset networks.
Gennaro and Goldfeder co-authored numerous publications on the Elliptic Curve Digital Signature Algorithm (ECDSA) that inspired the architecture of DCRM. ECDSA is the current cryptographic algorithm that secures the Bitcoin blockchain by ensuring that only the rightful custodian of a bitcoin has the capacity to spend it.
Gennaro and Goldfeder’s specific focus is the theoretical application of distributed threshold signature schemes to ECDSA and Edwards-curve Digital Signature Algorithm (EdDSA). The possibility of numerous participants or nodes in a distributed network collaborating cryptographically to sign a message is a fundamental key to unlocking distributed custody.
During this first phase of research, Gennaro and Goldfeder will analyze the theoretical basis of Fusion’s ECDSA implementation that would enable DCRM to support additional crypto-assets.
For security review and optimization, Pascal Paillier, the inventor of the Paillier cryptosystem, and Louis Goubin, head of the Cryptology and Information Security Group at the University of Versailles, will join the Shanghai team to ensure the DCRM meets the highest security standards and is optimized for superior performance. The Paillier cryptosystem is a probabilistic asymmetric algorithm for public key cryptography which the Fusion DCRM uses extensively.
The Fusion Foundation is a collaborative innovator of financial functions for the Internet of Values (IoV) and is led by Founder and CEO DJ Qian, a blockchain pioneer who previously launched two top 20 global blockchain projects (VeChain and QTUM). Qian is collaborating with financial institutions, cryptocurrency companies, businesses, peer-to-peer lenders, third-party app developers, academia, and the broader blockchain community on this project. By providing the foundation that enables different cryptocurrency tokens, digital assets, off-chain values, and data sources to be created and exchanged between the Fusion blockchain, other blockchains and financial systems, Fusion is moving ever closer to a globally accessible system for the free exchange of values. Visit www.fusion.org to learn more about Fusion and its partnership program.
- Blockchain-Based Travala.com Teams Up with Dash For Hotel Booking Payments - July 18, 2019
- SEC And FINRA Approves First Reg A+ Token Offerings - July 18, 2019
- Tokinex Tolken Sale Sells out in 35 Seconds - July 18, 2019
- 18 Organisations Launch The Convergence Alliance To Enable A New Open Data Economy Built On The Decentralized Web - July 9, 2019
- Bittrex Acquires Tradedash - July 3, 2019
- Korea’s Cube Systems Rolls Out New Blockchain eCommerce Platform - July 3, 2019
- Clinlogix Joins ALTEN Calsoft in Launching Blockchain for Clinical Trials - July 3, 2019
- Binance Charity forms alliance with 46 companies to unveil a stablecoin for the alleviation of period poverty - July 3, 2019
- Nestlé Breaks from IBM Food Trust Blockchain Group for New Milk Supply Chain Trial - July 3, 2019
- Tokeny Solutions Digital Asset Platform Gets €5 Million Backing from Euronext - July 3, 2019
- Blockchain Venture Capital Funding Reaches $822 Million in 2019 - July 1, 2019
- Toronto’s Creative Destruction Lab Joins Facebook’s Libra Association - June 19, 2019
- Australia’s Power Ledger to bring P2P Energy Trading to Austria - June 19, 2019
- Litecoin Foundation Teams Up With Bibox And Ternio On Special Edition Litecoin Debitcard - June 19, 2019
- US Legislators Call for Halt to Facebook’s Cryptocurrency Plans – And to Face Congress - June 19, 2019
- Hyperledger Welcomes Diverse Line-up of New Members for Identity Project - June 18, 2019
- Facebook Announces Calibra Digital Wallet and Libra Cryptocurrency - June 18, 2019
- MIT Professor Silvio Micali’s Algorand Project Announces Date for First Auction - June 6, 2019
- SEC sues Canadian Messaging Service Kik Selling Unregistered Securities in its $100 million ICO - June 4, 2019
- CrowdEngine Teams Up With Polymath Adding Security Token Issuance to List of Crowdfunding Services - June 3, 2019