Gnosis Safe has gained great traction with companies, DAOs and teams over the years. But multi-sig wallets have a number of constraints that make them unsuitable or a hassle to use in a lot of situations. Fortunately, there's a better solution available - MPC (Multi-Party Computation). Similar to a multi-sig, MPC requires multiple parties to approve your transactions. But it's a far better alternative to Gnosis Safe. And I'm going to explain why!
Like a multi-sig, a MPC wallet still requires multiple approved persons to authorise a transaction before it can be executed. The major difference between MPC and multi-sig is that where multi-sig uses multiple private keys to separately sign a transaction, MPC uses only one private key. And MPC shards this key into multiple pieces which are distributed to trusted third parties on different devices. This difference has some major implications for MPC which make it a much better alternative to Gnosis Safe. And I'll go into detail below.
An MPC wallet is by far the best alternative to Gnosis Safe or any multi-sig wallet.
Here's why:
Whilst Gnosis Safe provides support for a number of different chains, there are some that it can't support. The reason for this is that not all protocols support multi-sig...
And it gets worse:
Every protocol has a different implementation for multi-sig. Which makes it difficult for multi-sig wallet providers, like Gnosis, to securely support new chains.
Whenever you want to change number of parties on a Gnosis Safe, you have to create a new one. In fact, any changes to quorum authorisation policies require a new multi-sig to be set up. In contrast, with MPC you can make changes to the quorum without changing the wallet address. This makes it far easier to scale operationally as you can add and remove parties without moving your assets to a new wallet.
Multi-sig wallets don't offer great support for DeFi because as I mentioned above, they're not protocol agnostic! MPC works effectively with almost any DeFi application.
Gnosis Safe is a multi-sig and like all multi-sig wallets it requires multiple parties to sign transactions on chain with separate keys. This means third parties can see your policy configuration. And they can potentially track and trace your authorised parties because they can see which wallets are used to sign transactions on a multi-sig. With MPC, only the final signature is on chain. So your authorisation policy and who's involved is always kept private.
Secure your treasury assets with institutional grade custody using our MPC wallet solution. You can create as many wallets as you need to manage your treasuries crypto assets.
Keep track of all of your organisation's wallets in one place. Manage user roles and permissions. Control access to individual wallets. Create custom rules for transaction types and amounts.
Simplified bulk crypto payments. Store wallet addresses for contacts. Create payment groups for regular payments. And pay hundreds of contacts in one go.
Multi-party computation (MPC) is a cryptographic protocol which enables multiple parties to jointly compute a function over their inputs while keeping those inputs private. In the crypto world MPC is used to shard and distribute private keys making them less vulnerable to exploit. And as a better alternative to Gnosis Safe.
We don't hold your assets. In fact, your assets are held on chain. What we do do is provide software to secure your private keys, which are used to control those assets. Our MPC custody solution is much safer than a Gnosis Safe wallet. And we provide our users with the same degree of security as institutional custodians.
Yes. Because our wallet uses MPC it's blockchain agnostic. Meaning you can use it like you would any other wallet, only more securely.
Breaking down what makes MPC the best alternative to multi-sig
