Nash has posted an announcement noting that API keys generated by secure multi-party computation (MPC) are now open for public testing. Accompanying the announcement is an updated version of the TypeScript SDK with MPC support.
Multi-party computation allows Nash to collaborate with users to generate their keys in a decentralized manner, ensuring that the user remains the sole custodian of funds used on the exchange. During Q4 2019, the Applied Research team worked to adapt the MPC technology to facilitate decentralized API key generation.
API keys generated through secure MPC
Users can create their API keys for testing by creating an account on the sandbox site, and navigating to the API Keys tab of the Account Settings page. According to its Q4 2019 report, this integration is intended to make Nash the “first non-custodial exchange to offer automatic trading.”
In the future, this key generation process will allow users to leverage the benefits of MPC to restrict the usage of a particular API key. For example, keys could be generated that allow trading but no withdrawal, limit withdrawals to a specific amount in a set timeframe, or to be usable on one blockchain, such as Neo, but not on others, such as Ethereum or Bitcoin.
This customizability is hoped to provide the exchange’s users with flexible security options, particularly when trading programmatically through the API. The team also noted that rewards are available for responsible disclosure of any bugs encountered during testing. Reports can be submitted to bugbounty@nash.io.
About The Author: Brett Rhodes
Brett is a blockchain enthusiast and freelance writer who originally began producing content for the gaming & eSports industries. Now he spends most of his time contributing in the Neo ecosystem.
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