Drak [ARCHIVE] on Nostr: 📅 Original date posted:2014-03-10 📝 Original message:I was wondering if there ...
📅 Original date posted:2014-03-10
📝 Original message:I was wondering if there would be merit in a kind of BIP for a payment
protocol using multisig?
Currently, setting up a multisig is quite a feat. Users have to exchange
public keys, work out how to get the public keys from their addresses. If
one of the parties are not savvy enough, an malicious party could easily be
setup that was 2 of 3 instead of 2 of 2 where the malicious party generates
the multisig address+script and thus be able to run off with funds anyway.
It's also terribly complex to generate and keep track of. There's been a
nice attempt at creating an browser interface at coinb.in/multisig but it
still lacks the kind of ease with created by the payment protocol. If there
was a BIP then it would go a long way to aiding future usability of
multisig wallet implementations.
What are your thoughts?
Drak
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📝 Original message:I was wondering if there would be merit in a kind of BIP for a payment
protocol using multisig?
Currently, setting up a multisig is quite a feat. Users have to exchange
public keys, work out how to get the public keys from their addresses. If
one of the parties are not savvy enough, an malicious party could easily be
setup that was 2 of 3 instead of 2 of 2 where the malicious party generates
the multisig address+script and thus be able to run off with funds anyway.
It's also terribly complex to generate and keep track of. There's been a
nice attempt at creating an browser interface at coinb.in/multisig but it
still lacks the kind of ease with created by the payment protocol. If there
was a BIP then it would go a long way to aiding future usability of
multisig wallet implementations.
What are your thoughts?
Drak
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