Secure Multi-Party Computation (MPC) enables multiple entities to perform joint computations on their private data without exposing the data to one another. Since its introduction in the 1980s, MPC has been one of the most active research areas in cryptography, due in part to its wide applications and promising security guarantees. Over the last decade, MPC has gradually progressed from being purely of theoretical interest to being adopted more and more in practice. Yet, the adoption of MPC in real-world settings is still very limited as of today. In light of the recent data privacy legislations, there is an urgent need for bridging the gap between the theoretical feasibility and practical efficiency of MPC. Research in this area spans both theoretical and applied cryptography. In theory, we develop new techniques for achieving general MPC with the optimal complexity, bringing theory closer to practice. In practice, we design tailored MPC to achieve the best concrete efficiency for specific real-world applications. In this talk, I will discuss the challenges in both directions and how to overcome these challenges using cryptographic approaches.