Kryptology will simplify the process of creating new projects for crypto developers

​Coinbase has released a cryptographic library

07.12.2021 - 09:05

68

1 min

What’s new? Coinbase, the world's fourth-largest cryptocurrency exchange, has announced on its website a new open-source cryptographic library, Kryptology. The library provides access to secure APIs and other tools for the developers.

The Kryptology announcement

What else does the library offer? The library will provide access to the Shamir Secret Sharing (SSS) algorithm, designed to store the private keys. This algorithm is ideal for creating complex DeFi systems. In addition, Kryptology implements Boneh-Lynn-Shacham (BLS) signatures. The project also offers a set of documents, which include various guidelines for the developers and the error analysis.

How did Coinbase comment on the project? The company hopes to simplify the development of new projects and wants to enable developers to focus only on the most important aspects of the cryptography:

“While enabling further innovation is our primary goal, we also aim for Kryptology to elevate the standard for what is considered to be a robust, usable cryptographic library.”

Author:

Vasiliy Smirnov Vasiliy Smirnov

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy