What is Partisia (MPC)? - Bitfinex blog
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19 Mar What is Partisia (MPC)?

Posted at 14:15h in Token by

Partisia Blockchain incorporates Secure Multiparty Computation (MPC) into its framework, enabling the processing of private data without disclosing its contents. This approach aligns with stringent data protection regulations, facilitating the use of sensitive data in various industries without breaching confidentiality.

The architecture of Partisia Blockchain includes sharding to enhance scalability by distributing computational and storage tasks across the network. This structure aims to accelerate transaction finalisation 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 in users’ preferred tokens, promoting interoperability among different blockchain ecosystems.

The platform is designed to be accessible for developers, featuring a user interface that simplifies the integration of MPC technology into blockchain applications. This enables the creation of both public and private smart contracts without requiring extensive cryptographic knowledge. Additionally, the focus on Zero-Knowledge (ZK) computations facilitates confidential transactions and computations across blockchains, aiming to improve privacy and interoperability.

Partisia Blockchain proposes a solution to address existing limitations in blockchain technology by prioritising transparency, confidentiality, and scalability. It supports a broad spectrum of applications, including those in financial services and healthcare, where data privacy and security are crucial. Through a global collaborative approach and a focus on ZK computation, Partisia Blockchain contributes to the development of privacy-preserving, blockchain-agnostic platforms, aiming to enhance the security, efficiency, and scalability of blockchain applications.

What is the MPC Token?

The MPC token functions as the native utility token within the Partisia Blockchain ecosystem, integral to its operation and the execution of multiparty computation (MPC), enhancing privacy solutions beyond the capabilities offered by zero-knowledge proofs (ZKPs). The total supply of MPC tokens is capped at one billion, establishing a controlled economy to maintain the token’s valuation and its equitable distribution within the network.

The economic structure of the MPC token incentivizes network participation and security enhancement. 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 BYOC cross-chain node, each subject to specific staking requirements. This diversified node operator framework is fundamental to maintaining network security and functionality.

To support network development and operator incentive, 10% of the total MPC token supply is dedicated to rewarding operators who contribute to the initial network establishment, demonstrating the platform’s commitment to its foundational participants. The inclusion of “delegated staking” allows for broader participation in the network’s consensus and security processes, fostering a decentralised ecosystem.

Moreover, MPC tokens serve a pivotal role in facilitating transactions within the network, enabling fee payments for network operations through various liquid assets, such as Ethereum and USD. These assets can be integrated into the Partisia Blockchain through a collateralised token bridge mechanism, enhancing the platform’s interoperability and flexibility. This functionality allows for the execution of transactions across diverse blockchain networks while ensuring privacy and scalability remain intact.

What is MPC’s Tokenomics?

Tokenomics

  • Hard Cap: The MPC token has a hard cap of one billion tokens, establishing a finite supply to prevent inflation and ensure scarcity, which could influence the token’s value over time.
  • Incentive for Participation: The tokenomics are structured 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 decentralisation.
  • Node Operator Categories and Staking Requirements:

Baker Node: Required to stake a minimum of 25,000 MPC tokens.

ZK Node: Required to stake a minimum of 100,000 MPC tokens.

BYOC Cross-Chain Node: Required to stake a minimum of 250,000 MPC tokens.

  • Rewards for Node Operators: To bootstrap 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 network’s stability and growth.
  • Delegated Staking: This feature enables broader community participation in the network’s security and consensus mechanisms by allowing token holders to delegate their stakes. It democratises the influence on network operations and rewards.
  • Transaction Fee Payments: MPC tokens facilitate the payment of 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 onto the Partisia Blockchain through a collateralised token bridge. This approach promotes flexibility and interoperability within the ecosystem.
  • Unlocking Schedule: The tokenomics include a detailed unlocking schedule for presale participants and team allocations, emphasising long-term commitment and gradual distribution into the market.

How to buy MPC with crypto

1. Log in to your Bitfinex account or sign up to create one.

2. Go to the Deposit page.

3. In the Cryptocurrencies section, choose the crypto you plan to buy MPC with and generate a deposit address on the Exchange wallet.

4. Send the crypto to the generated deposit address.

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

How to buy MPC with fiat

1. Log in to your Bitfinex account or sign up to create one.

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

3. On the Deposit page, under the Bank Wire menu, choose the fiat currency of your deposit. There’s a minimum amount for fiat deposits on Bitfinex; learn more here.

4. Check your Bitfinex registered email for the wire details.

5. Send the funds.

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

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

[AppStore]  [Google Play]

Partisia Community Channels

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