What is partisanship (MPC)? – Bitfinex Blog

March 19 What is partisanship (MPC)?

Partisia Blockchain integrates secure multi-party computing (MPC) into its framework, enabling private data to be processed without revealing its contents. This approach complies with strict data protection regulations, facilitating the use of sensitive data in various industries without violating confidentiality.

The Partisia Blockchain architecture includes sharding to enhance scalability by distributing computational and storage tasks across the network. This architecture aims to speed up transaction completion and maintain security, even under high network loads. Partisia Blockchain also features a token bridging mechanism, dubbed Bring Your Own Coin (BYOC), which allows transactions with users' preferred tokens, enhancing interoperability between different blockchain ecosystems.

The platform is designed to be accessible to developers, and features a user interface that simplifies the integration of MPC technology into blockchain applications. This allows the creation of public and private smart contracts without requiring extensive coding knowledge. Additionally, the focus on zero-knowledge (ZK) accounts facilitates confidential transactions and accounts across blockchains, with the goal of improving privacy and interoperability.

Partisia Blockchain proposes a solution to address current limitations in blockchain technology by prioritizing transparency, confidentiality, and scalability. It supports a wide range of applications, including those related to financial services and healthcare, where data privacy and security are critical. With a global collaborative approach and focus on ZK computing, Partisia Blockchain contributes to the development of privacy-preserving and blockchain-independent platforms, with the aim of enhancing the security, efficiency and scalability of blockchain applications.

What is MPC code?

The MPC token serves as a native utility token within the Partisia Blockchain ecosystem, and is integral to its operation and implementation of Multiparty Computing (MPC), enhancing privacy solutions beyond the capabilities provided by Zero-Knowledge Proofs (ZKPs). The total supply of MPC tokens is at a maximum of 1 billion, creating a controlled economy to maintain token valuation and fair distribution within the network.

The economic structure of the MPC token incentivizes network sharing and enhances security. Token holders have the opportunity to contribute as full block producers and validators through a token staking process accessible via the Partisia Wallet. The network differentiates node operators into three categories based on their roles: Baker Node, ZK Node, and cross-chain BYOC Node, each subject to specific staking requirements. This diverse node operator framework is essential to maintaining network security and functionality.

To support network development and operator incentives, 10% of the total MPC token supply has been allocated to reward operators who contribute to the initial network creation, demonstrating the platform’s commitment to core participants. The inclusion of Delegated Delegation allows for broader participation in the network's consensus and security processes, strengthening the decentralized ecosystem.

Furthermore, MPC tokens play a pivotal role in facilitating transactions within the network, enabling fees to be paid for network operations through various liquid assets, such as Ethereum and USD. These assets can be integrated into the Partisia Blockchain through a secured token bridge mechanism, enhancing the interoperability and flexibility of the platform. This functionality allows transactions to be carried out across various blockchain networks while ensuring that privacy and scalability remain intact.

What are MPC tokens?

Token economy

• Cap: The MPC token has a cap of 1 billion tokens, creating a limited supply to prevent inflation and ensure scarcity, which could affect the value of the token over time.

• Participation Incentive: Tokens are designed to encourage active participation within the network. Token holders can stake MPC tokens to become full block producers or validators. This staking mechanism is essential for network security and decentralization.

• Node operator classes and staking requirements:

Baker Node: At least 25,000 MPC tokens are required to participate.

ZK Node: Required to stake at least 100,000 MPC tokens.

BYOC Cross-Chain Node: Required to share at least 250,000 MPC tokens.

• Node Operator Rewards: To operate the network and maintain its health, 10% of the total MPC supply is allocated to reward node operators. This allocation aims to compensate operators for their contributions to the stability and growth of the network.

• Stake Delegation: This feature enables broader community participation in network security and consensus mechanisms by allowing token holders to delegate their stakes. It democratizes influence over network operations and rewards.

• Transaction Fee Payments: MPC tokens make it easier to pay transaction fees within the network. However, Partisia Blockchain also allows transactions to be paid with liquid coins such as Ethereum and USD, which can be brought to Partisia Blockchain through a secured token bridge. This approach promotes flexibility and interoperability within the ecosystem.

• Unlocking Schedule: Tokens include a detailed opening schedule for pre-sale participants and team allocations, with an emphasis on long-term commitment and gradual market distribution.

How to buy MPC with cryptocurrencies

1. Log in to your Bitfinex account or register to create an account.

2. Go to the deposit page.

3. In the Cryptocurrencies section, choose the cryptocurrency you plan to buy MPC with and create an Exchange wallet deposit address.

4. Send the crypto to the generated deposit address.

5. Once the funds arrive in your wallet, you can exchange them for MPC. Learn how to trade on Bitfinex here.

How to buy MPC with fiat currency

1. Log in to your Bitfinex account or register to create an account.

2. You need to get full verification to be able to deposit fiat currencies into your Bitfinex account. Learn about the different verification levels here.

3. On the Deposit page, under the Bank Wire menu, choose the fiat currency for your deposit. There are minimum fiat deposits on Bitfinex; Learn more here.

4. Check your registered Bitfinex email to get the transfer details.

5. Send money.

6. Once the funds arrive in your wallet, you can use them to purchase MPC.

Also, we have Bitfinex on mobile, so you can easily buy MPC token on the go.

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