A scheme in which several parties jointly produce a signature without any of them ever holding a complete private key.
Why it matters
MPC and multisig both remove the single-key single-point-of-failure, but differently: multisig produces several on-chain signatures under an on-chain policy, while MPC produces one ordinary signature and keeps the policy off-chain. The trade is transparency for flexibility — an MPC arrangement is cheaper and chain-agnostic, but its threshold and signer set are not readable from the chain.
What you can check
Because the policy is off-chain, it can only be established from documentation and audit: how many shares exist, how many are required, who holds them, and what process re-shares them if one is lost. An on-chain observer cannot distinguish a well-run MPC wallet from a single key.
Not advice. Definitions are for understanding, not instruction. Nothing here is financial, legal, tax or security advice.