Unido’s Secret Sauce — Unido Core

Unido
Unido
Apr 13 · 4 min read

Non-retail users and established financial services companies have recently pivoted toward the cryptocurrency space. For example, JPMorgan recently launched a crypto investment fund and PayPal now accepts crypto payments from its 350 million+ user base. However, the challenge for these and similar firms is how to streamline operations and manage crypto-based assets while delivering the security, transparency, ease-of-use, and cost-effectiveness that are expected of blockchain and crypto-based solutions.

These are the very challenges that Unido was designed to address. Unido’s Enterprise Platform, DeFi Vault, and Crypto Banking Suite provide institutional and retail investors and businesses with blockchain-powered security, governance, interoperability, and customization. They also come with intuitive and easy-to-use management tools that can be used by tech and non-tech workers alike.

Understanding Key Management

The biggest driver of many of the issues outlined above is key management.

Private keys are needed to approve transactions. Access to the private key of an account or wallet is tantamount to ownership of that account or wallet. Private keys are critical to cryptocurrency or blockchain services but they also represent a single point of failure. If a vulnerable account is hacked or a user makes an error, an exposed key can lead to serious and substantial losses.

Without effective key management, you cannot guarantee asset security. Without an effective key management solution, you cannot provision asset access as needed, and weak transaction approval and storage protocols can expose your assets to significant risk.

At the heart of Unido’s comprehensive set of DeFi offerings is Unido Core that ties the entire ecosystem together. Here is how it works.

Unido Core

Unido Core is Unido’s proprietary key management and transaction signing technology. It provides:

  • Flexible governance.
  • Ease-of-use for technical and non-technical staff.
  • Enterprise-grade security.
  • Adaptability to different chains, industries, and use cases.

How it Works

Unido Core breaks up private keys and securely encrypts and shares them with multiple parties. This is known as MPC or multiparty computation. This vastly reduces the chances of the key being lost or stolen and allows multiple members of a wallet or account with varying levels of access and usage rights to approve or refuse transactions, as needed.

Wherever it is deployed, authorized signatories can set up transactions using a Unido Core-powered application. Each of the signatories’ encrypted portion is committed only when they elect to approve the transaction. This ensures not just key security but asset security, access security, and transaction security.

The Unido Core API

End-users can access the benefits of Unido Core’s technology via the API. It endows any dApp with enterprise-grade security and creates a gateway for the user to use or interact with Unido ecosystem services. It can be used to connect wallets, supply chains, identities, DeFi services, business networks, and more with Unido and it seamlessly endows the user or system with enterprise-grade security.

Use Cases

Here are some of the challenges that Unido can help crypto and DeFi trade and investment businesses overcome.

  • Streamline crypto banking management via safe asset storage and access, seamless payments management, workflow customization, and permissions management.
  • Providing interoperability for assets and systems of different types.
  • Delivering cross-chain compatibility for assets running on different crypto protocols.
  • Quickly deploying idle assets in the best investment opportunity available.
  • Easy-to-use interfaces that also come with hassle-free integration across the user’s network.

About Unido

Unido is an enterprise platform for decentralized capital markets. It enables institutions & corporate clients to securely store, manage and invest their crypto assets into decentralized finance networks. Unido is underpinned by proprietary key signing technology that provides enterprise-grade security for any transaction which utilizes it.

Founded in 2017 and with a market-ready product, Unido is led by an experienced team of ex-Goldman Sachs, ex-Macquarie and ex-Wipro with decades of experience in enterprise software development, financial services and agency blockchain development.

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Unido Blog

Enterprise platform for decentralized capital markets, built on Polkadot.

Unido Blog

Unido is an enterprise platform for decentralized capital markets, built on Polkadot and powered by $UDO token. Learn more at: www.unido.us

Unido

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Unido

Built on Polkadot and powered by $UDO token, Unido is building enterprise-grade solutions to give institutions better access to DeFi Markets.

Unido Blog

Unido is an enterprise platform for decentralized capital markets, built on Polkadot and powered by $UDO token. Learn more at: www.unido.us