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Coinbase to buy Israeli company, launch local R&D center

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Coinbase, the world’s largest cryptocurrency exchange, is acquiring an Israeli cryptography company for an undisclosed amount and setting up an R&D center in Israel, the firm announced on Tuesday.

Founded in 2013, Unbound Security (also Unbound Tech) develops cryptographic security technologies and was co-founded Yehuda Lindell, an Australian-born computer science professor at Bar-Ilan University and a leading cryptography researcher and expert, as well as Professor Nigel Smart, a British cryptography researcher and expert, and Guy Peer, a software expert who serves as Unbound Security’s VP of R&D.

Cryptography is the science and practice of secure communication techniques, on which the cryptocurrency world is built.

Coinbase said Unbound Security was “a pioneer in a number of cryptographic security technologies, including the emerging field of secure multi-party computation” (MPC), in which Lindell is a top researcher.

Protocols of secure MPC Protocols, according to Lindell’s own writing, “enable a set of parties to interact and compute a joint function of their private inputs while revealing nothing but the output.” This can allow crypto assets “to be stored,........

© The Times of Israel

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