Following in the footsteps of Bitcoin, Ethereum and Binance Coin, Zilliqa is the latest project to be added to the Threshold Signature Scheme!

In the Tweet by ZenGo, they confirmed that Zilliqa is the latest of high profile projects being added to the scheme, but what is the Threshold Signature Scheme?

The scheme is to replace the single atomic private key by splitting the responsibilities. This means many parties can control the address and they are all required to sign the transactions from the account.

Each of the party will generate its own code and use this code to distributively sign the transactions without revealing the code to other parties this making the private key controlled by one person redundant offering more security and less risk of losing it.

The screenshot below is that of the first Zilliqa address controlled by the Threshold Signature Scheme and not by the standard private key making the coins the first controlled by a TSS for Schnorr Signatures.

The TSS scheme is state of the art in the crypto space and is looking to be added onto more blockchains with time.