PayPal Bids $500M to Acquire Crypto Startup Curv

Post by rawtxapp » Wed, Mar 03, 2021, 4:35 PM UTC

freeone3000 wrote: post #14

rawtxapp wrote: post #11

Earlier quoted context omitted.

Are you implying that a company that processes hundreds of billions of dollars in transaction volume is thinking of acquiring this company for the hype alone?

Is that a bad strategy? We've seen billion dollar IPOs on hype alone. In 2021, it might even be the winning strategy.

Post by jcpham2 » Wed, Mar 03, 2021, 4:36 PM UTC

maayank wrote: post #15

staticelf wrote: post #2

Cool, never heard of it and visiting their website it is not exactly clear to me what their product is. I have never quite understood how companies just have a single landing page with no publically available product or service (as it seems) and still get bought for several hundred millions.

Disclaimer: I work for a competitor. Multi-party computation (MPC) enables you to participate in public key cryptography with shares ("parts") of a private key divided between multiple participants from the get-go, i.e. without ever having the private key in memory at any point in time. So for example, if you divide the shares between mobile devices and servers then all of them would need to communicate with one anot…

Post by ceilingcorner » Wed, Mar 03, 2021, 4:37 PM UTC

Post by [deleted] » Wed, Mar 03, 2021, 4:38 PM UTC

TacticalCoder wrote: post #19

nassycheezy wrote: post #12

Earlier quoted context omitted.

I've built a similar product for a well-known company in the space (and competitor to this company & Coinbase) and co-led the development of the crypto custody at Novi (Blockchain subsidary of Facebook). Happy to answer more questions though they do not provide much insight into their technology publicly. Curv provides MPC-based crypto custody solution wi. I'll be over-simplifying but they allow private keys that pro…

> Happy to answer more questions... Does these kind of solutions work for every cryptocurrencies? For example does is support Bitcoin? Or is this something that needs some kind of smart contract like those provided by Ethereum? And another question: what about optionally fully anonymous transaction as in ZCash, does the scheme work to sign tx done using ZK proofs too? Or fully anonymous ones, like David Chaum's upcom…

Post by wj » Wed, Mar 03, 2021, 4:40 PM UTC

jyu wrote: post #16

Remember that there are people behind these decisions and they are largely rational actors. Someone at PayPal is getting a big promotion and bonus from pushing this deal. If crypto goes nowhere and they shut down this project, then it can be rationalized as "getting in too early" or some other "unforeseen externality" that happened, totally out of their control. But the promotion and risk taking executive will have s…