1

So, I read that with the new taproot upgrade, now there is a possibility to reduce the number of signatures necessary to create a valid transaction in a multisig wallet.

For example, create a 3-5 wallet that after 100,000 blocks "downgrades" to a 2-5.

Is this possible to do with bitcoin-cli now? Or do we have to wait until November?

If it is, how can I do it.

Thanks a lot and sorry for the noob question

0
0

So, I read that with the new taproot upgrade, now there is a possibility to reduce the number of signatures necessary to create a valid transaction in a multisig wallet.

That would be using MuSig, a multisignature protocol that uses Schnorr signatures (included within the Taproot upgrade). MuSig2 still needs to be standardized and probably won't be supported in Bitcoin Core in November 2021 when Taproot activates.

For example, create a 3-5 wallet that after 100,000 blocks "downgrades" to a 2-5. Is this possible to do with bitcoin-cli now? Or do we have to wait until November?

You cannot create arbitrary scripts with bitcoin-cli today and won't be able to in November (I suspect). You can create the script yourself and import it into a wallet using importmulti. See Kalle Alm's btcdeb project or Miniscript for constructing arbitrary scripts.

1
  • 2
    Even if you manage to create such a script and import it, you cannot do more than watch fixed addresses. Derivation of addresses and (cooperation on) signing with them requires actual wallet support, which will likely only appear if and when Miniscript gets integrated into Bitcoin Core. – Pieter Wuille Jun 15 at 15:26

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