Take the 2-minute tour ×
Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. It's 100% free, no registration required.

Here is some github code to create split keys.

  • Is Key Splitting the same as Multi Sig?

  • What are the benefits of Key Splitting, what's it used for?

  • How does it relate to P2SH or any other relevant BIP?

  • How are split keys used in a transaction?

share|improve this question
add comment

1 Answer

  • No. Multisignature transactions involve multiple keys/signatures, whereas this involves splitting up one key.
  • As far as I know, it's not used at all in production. There are a whole host of issues.
  • P2SH was created to make multisignature transactions easier to implement for e-wallet providers and merchants, and to move the burden of multisignature transactions from the sender to the reciever.
  • Like so:

    1. Generate a key
    2. Split the key up, store the pieces in different places
    3. Put the key back together
    4. Sign transactions

    The major problem with split-key transactions is that you need a trusted third party. When they generate the key, they could secretly store it. When they put the key back together, they could secretly sign a transaction that stole all of your bitcoins.

share|improve this answer
add comment

Your Answer

 
discard

By posting your answer, you agree to the privacy policy and terms of service.

Not the answer you're looking for? Browse other questions tagged or ask your own question.