Odaily Planet Daily News Cryptocurrency custody platform Zenrock (formerly Qredo) launched an innovative decentralized custody solution aimed at alleviating users' concerns about DeFi security and accelerating industry development. Dan Tapiero, chairman of Zenrock, said that even active users in the crypto space are nervous about using DeFi, causing many investors to still prefer centralized exchanges and ETFs. To address the centralized risks of the existing custody model, Zenrock uses decentralized multi-party computing (MPC) wallet technology to eliminate single-point failure weaknesses by splitting and distributing private keys among multiple parties. The company also designed a hybrid security model that combines its own tokens and EigenLayer to protect the protocol. CEO Randy Little called this model "giving purpose to re-pledged Ethereum." Zenrock plans to adopt a trading model and provide the technology to developers, institutions and individual investors. The platform is currently in the testnet stage and is expected to be officially launched within the year. Zenrock has launched the decentralized wrapped Bitcoin token zenBTC on August 19, further expanding its product line. The project is supported by 10T Holdings, 1RoundTable Partners, Spartan Group and Maven 11. Tapiero emphasized that Zenrock is the first project to apply traditional private equity practices to the digital asset field, and it is expected that more traditional financial institutions will follow this model in the future. (Coindesk)