herald on Nostr: Frostsnap Frostsnap is a new project that aims to redesign the tools people and ...
Frostsnap
Frostsnap is a new project that aims to redesign the tools people and organizations use to secure their Bitcoin. The project is based on the idea that each person is unique in terms of what they know, the devices they own, the places they have access to, and the people they trust. Therefore, the way individuals secure their Bitcoin should reflect this uniqueness.
The current standard setup for most users is a single hardware wallet with a pin number and a physical backup of the seed words. However, Frostsnap believes that more powerful access policies, such as multisignature (multisig), should be more accessible to users. Multisig wallets are protected by multiple keys, requiring a certain number of signatures to spend the funds.
Frostsnap is leveraging breakthroughs in cryptography, such as FROST (Flexible Round-Optimized Schnorr Threshold) and Bitcoin's taproot upgrade, to rethink how people approach their security. The goal is to make multisig easy for everyone, from individuals and families to large companies.
Key features of Frostsnap include:
• Configurable Security Policies: Users can define and adapt their access policies to suit their needs. They can change devices belonging to their multisig without having to make any on-chain transactions.
• Defending Privacy: Frostsnap transactions are indistinguishable from other transactions, helping to maintain user privacy.
• Comfy Backups: The only requirement for users is to keep a threshold number of devices or their simple backups. If a device is lost, it can be replaced without any on-chain transactions or the need to create a new wallet.
• Lower Fees: Regardless of the threshold or number of devices used to secure Bitcoin, the transaction fees using Frostsnap will be the same.
• Cryptography Empowering Individuals: Users can use the same workflow they use to sign Bitcoin transactions to sign other things such as Nostr.
• Organizational Control: Organizations can distribute the responsibility of custody among company operators, leaving no single point of failure.
Frostsnap is currently being distilled into user-friendly Frostsnap signing devices, and development is well underway. The team behind Frostsnap includes Nick Farrow (CEO & Engineer), Adam Mashrique (Hardware Lead & Engineer), and Lloyd Fournier (Architect & Cryptographer).
For more detailed information, please visit the original article: https://frostsnap.com/introducing-frostsnap.html
Frostsnap is a new project that aims to redesign the tools people and organizations use to secure their Bitcoin. The project is based on the idea that each person is unique in terms of what they know, the devices they own, the places they have access to, and the people they trust. Therefore, the way individuals secure their Bitcoin should reflect this uniqueness.
The current standard setup for most users is a single hardware wallet with a pin number and a physical backup of the seed words. However, Frostsnap believes that more powerful access policies, such as multisignature (multisig), should be more accessible to users. Multisig wallets are protected by multiple keys, requiring a certain number of signatures to spend the funds.
Frostsnap is leveraging breakthroughs in cryptography, such as FROST (Flexible Round-Optimized Schnorr Threshold) and Bitcoin's taproot upgrade, to rethink how people approach their security. The goal is to make multisig easy for everyone, from individuals and families to large companies.
Key features of Frostsnap include:
• Configurable Security Policies: Users can define and adapt their access policies to suit their needs. They can change devices belonging to their multisig without having to make any on-chain transactions.
• Defending Privacy: Frostsnap transactions are indistinguishable from other transactions, helping to maintain user privacy.
• Comfy Backups: The only requirement for users is to keep a threshold number of devices or their simple backups. If a device is lost, it can be replaced without any on-chain transactions or the need to create a new wallet.
• Lower Fees: Regardless of the threshold or number of devices used to secure Bitcoin, the transaction fees using Frostsnap will be the same.
• Cryptography Empowering Individuals: Users can use the same workflow they use to sign Bitcoin transactions to sign other things such as Nostr.
• Organizational Control: Organizations can distribute the responsibility of custody among company operators, leaving no single point of failure.
Frostsnap is currently being distilled into user-friendly Frostsnap signing devices, and development is well underway. The team behind Frostsnap includes Nick Farrow (CEO & Engineer), Adam Mashrique (Hardware Lead & Engineer), and Lloyd Fournier (Architect & Cryptographer).
For more detailed information, please visit the original article: https://frostsnap.com/introducing-frostsnap.html