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Questions tagged [multi-signature]

Multi-signature addresses require m-of-n signatures to authorize spending funds sent to them.

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45
votes
4answers
36k views

What are multi-signature transactions?

What are multi-signature transactions, and why might they be used? Also see: How does one make multisignature transactions with the bitcoin client? How can I create a multi signature 2-of-3 ...
24
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3answers
4k views

What are the implications of Schnorr signatures?

Adam Back (adam3us) explained in March, 2014, but it is all math. There's another short post with advantages, though. This answer on crypto.SE claims that Bitcoin considered using Ed25519 which is ...
24
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5answers
6k views

What are the limits of m and n in m-of-n multisig addresses?

This method describes how to create a 2-of-3 multisig. I heard that there is an inherent limit with the number of multisig parts, limiting them to 3. Does the standard method described above of ...
20
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2answers
8k views

How will multisig addresses work?

How will multisig addresses work? Will they consist of multiple traditional addresses, or will they have some different structure? Will one be able to specify whether they will require 2 out of 2, 2 ...
18
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4answers
12k views

How can I create a multi signature 2-of-3 transaction?

Can somebody help me with step-by-step list of how to create a multi signature 2-of-3 transaction?
12
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1answer
5k views

How does one make multisignature transactions with the bitcoin client?

With the release of bitcoin version 0.6.1rc2, it is now possible to do M-of-N required signature transactions in the main network. But how does one actually perform such a transaction? I've been ...
12
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2answers
689 views

How can I avoid transaction malleability consequences?

Please note that this question is NOT a duplicate of other questions regarding transaction-malleability. My question is regarding a following scenario, that could happen on an exchange that uses on-...
11
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3answers
2k views

Why are m-of-n transactions not used today?

BIP 11 supports m-of-n transactions. While BIP 16 and BIP 17 are being debated and voted upon, I have to ask: why haven't there been evidence of BIP 11 used in for m-of-n transactions? All that BIP ...
11
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1answer
1k views

Is there a difference between the multi-signature and Shamir's secret sharing?

Is there a difference between the multi-signature and Shamir's secret sharing? Technology/algorithm-wise.
9
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1answer
2k views

Schnorr vs ECDSA

I understand that Schnorr signatures provide an improvement on ECDSA in that they are a fixed 64 bytes instead of the longer ECDSA sig format, however, I don't see how this is an advantage over ECDSA ...
9
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2answers
335 views

Mediated transfer of funds between three parties

Alice wants Bob to transfer 10btc to Carol, and is willing to pay Bob 11btc for the transfer. They both entrust Trent to mediate the transaction, and Alice is willing to pay Trent 1btc as commission. ...
8
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3answers
473 views

Could cryptocurrency “insurance” slow Bitcoin adoption?

Does the concept of cryptocurrency "insurance" undermine the purpose of "being your own bank"? Recently I have seen more Bitcoin related companies offer some sort of insurance for Bitcoins stored in ...
8
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3answers
2k views

How can an online wallet be more secure than paper wallets or cold storages?

Recently, after I was reading that some bitcoin early adopter lost 750 BTC due to theft from his macbook, I was looking for the most secure storage solution for my coins. I already know about paper ...
8
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1answer
6k views

How is a Transaction ID generated & when does it change? (with a new sequence ID?)

I'm creating a non-mainstream client that processes and validates Bitcoin transactions and need to track transactions in my database. How is the TxID generated and when does it change? ...
8
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1answer
7k views

Difference between a SegWit address and a P2SH address

Let there be an address 3ABCDEFGHJKDJHDH.... How can I understand if it's a SegWit address or a MultiSig address?
8
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1answer
2k views

How to create the same (2 of 3) multisig adresses as electrum's multisig wallets with createmultisig?

Looking to create 2 of 3 multisig addresses with the electrum console with public keys (not the master public keys): electrum createmultisig 2 '["1st public key wallet 1", "1st public key wallet 2", "...
8
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2answers
280 views

Who are the key developers, and where can I follow their progress and decision making?

I want to follow the most up to date developments of Bitcoin, (such as M of N transaction confirmation). Who are the primary developers of Bitcoin and what is the most efficient way to track the ...
8
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3answers
967 views

Is there a listing of strange or unusual scripts found in transactions?

I'm studying scripts and am looking for strange or unusual scripts that have appeared in any of the *coin networks..(outside the standard ones listed on this page) Is any one person, or website ...
7
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1answer
8k views

How do I use Multisig transactions to handle escrow needs?

I want to do a private escrow between me and someone else for a Bitcoin miner, and it will take weeks or months for that miner to arrive. I think multisig is an easy trust-free way to accommodate ...
7
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3answers
1k views

What clients support escrow transactions apart from Blockchain's MyWallet?

By escrow transactions I mean basic 2 of 3 multi-signature transaction like here https://blockchain.info/wallet/escrow Are there any other bitocoin clients where I can do this?
7
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1answer
1k views

Implementing Multi-Sig Escrow?

I want to start a BTC market. I understand all the ways to go about creating a site, it's just the payment implementation which confuses me. I want multi-sig transactions capable between my users on ...
7
votes
1answer
306 views

Bitcoin multi-sign and the amount of storage it required

I read the paper "Threshold-optimal DSA/ECDSA signatures and an application to Bitcoin wallet security". The authors said that in the optimal threshold signature that they propose, players require ...
6
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3answers
1k views

What is the safest physical to store a private key only to be accessed after death?

Assume that my friend would like to encrypt his Bitcoin private key(s) and safely store them in a secret location. This located would only be identified to heirs after death in his will. Should he put ...
6
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3answers
1k views

What BIP32 derivation path does Electrum use for Multisig?

Same question as What BIP32 derivation path does Electrum use? but for multisig. thanks.
6
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1answer
1k views

Will SegWit allow for m of n multisig with very large n and m?

By reading this answer, I understand that in m-of-n multisig addresses, m and n are limited by the maximum size allowed by the P2SH redeemScript (i.e. 520 bytes). However, in this section of BIP141, ...
6
votes
2answers
257 views

Multi-sig N of M where 1 of the keys can see the balance but not spend (read-only key)?

If I had a non-HD multi-sig wallet, checking the balance of it would be trivial (I would just look at the blockchain to see the address' balance, without the need to hold a key). However, with HD ...
6
votes
1answer
3k views

Multi-signature and “pay to script hash” vs “pay to pub key hash”

If I understand correctly, there are two methods to perform a multi-signature transactions in Bitcoin. One is "pay to pub key hash", which is a method commonly used to send standard single signature ...
6
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2answers
485 views

How many different formats can a public address take?

I'm creating an offline index to report off of the block chain. I plan on indexing each transaction based on the address displayed in the TX. Are all addresses Base58? I believe I also read about ...
6
votes
1answer
1k views

What is “Key Splitting”? When would I use it?

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 ...
6
votes
1answer
434 views

Working example of raw transaction utilising Boolean (OP_IF, OP_ENDIF) scripting REQUIRED

I recently posted this Testnet TX (TxID 2d0daa01da8294a54178f8111eb2a02010c425fd15957d8baee8717edcfbe105) which successfully spends an output (TxID ...
6
votes
1answer
554 views

Are multi-sig M-of-N transactions with N > 3 supported?

BIP 11 makes M-of-N multi-sig transactions standard --- for N <= 3. What is the current support among miners for the multi-sig transactions with N > 3? (say 3-of-6). Also, BIP 11 states: The ...
5
votes
4answers
5k views

What are the different prefixes of Bitcoin addresses?

Until today, I thought all addresses must start with 1. Well, behold 3M8XGFBKwkf7miBzpkU3x2DoWwAVrD1mhk, which is a multi-sig escrow address created to hold the bounty for the development of CoinJoin....
5
votes
2answers
1k views

P2SH address decoding

What is the process of decoding the P2SH address? We have this information so far. Let's run through an example tx bea1e7ae7ecdc502215717f30d62a12085bb2866d8db730dfb626b60c337534c The hex script (...
5
votes
3answers
1k views

What happens to bitcoins in a multi-sig transaction if nobody signes?

If I transfer my coins using a multi-sig transaction, they will leave my account, but where are they until the other parties sign and they go to the recipient? If nobody signs, do they come back to me?...
5
votes
1answer
123 views

Does MuSig have the same security as 2-2 multisig?

Disclaimer: This question is of theoretical importance to me trying to educate myself better on cryptographic principles and signature schemes. I don't intend to imply that in practice schnorr ...
5
votes
2answers
316 views

How can I cancel and replace a Transaction that never gets confirmed?

According this this WikiPage, a MultiSigTransaction that doesn't include a fee may never get included in a block. Since I've read that replacing Transactions (by version number or any other feature) ...
5
votes
2answers
3k views

How can I use multisig / split keys using My Wallet?

I was sure that My Wallet supported multisig, but I can't seem to find it now. How can three users of My Wallet create an address that is only spendable if at least two of them cooperate? Or is this ...
5
votes
1answer
413 views

How are Lightning network, duplex channels, and micropayment channels related?

I'm new to Bitcoin and just became familiar with Micropayment channels. But how exactly do they relate to: Lightning network Duplex Micropayment Channels ? I am reading about these but can't find a ...
5
votes
2answers
169 views

What does the Lightning Network UX look like?

I think understand the basics of how Lightning Network works. But what I'm failing to understand is how users will use this in a practical, day to day basis. Say I want to pay for my Starbucks coffee ...
5
votes
1answer
102 views

Proof of Identity Sidechain Proposals

I have seen various Proof of Identity Proposal that all required some degree of trust (to verify the person in physical possession of a Passport is also the owner of it for example). Have their been ...
5
votes
1answer
382 views

Escrow multisig output tx

Can someone please explain the third (Escrow) output transaction listed here: https://blockchain.info/tx/09dd94f2c85262173da87a745a459007bb1eed6eeb6bfa238a0cd91a16cf7790?show_adv=true What the ...
5
votes
1answer
575 views

How can one use multi signature transactions/addresses to improve the security of their services?

Multi signature transactions and addresses are heralded to be a good way to improve security of various Bitcoin services. However, how should one go about using them in order to achieve that goal? For ...
5
votes
3answers
403 views

BIP0016 pay-to-scripthash transaction validation

BIP0016 says "Validation fails if there are any operations other than "push data" operations in the scriptSig". What does it mean "push data operations"? OP_CHECKMULTISIG seems to be allowed but does ...
5
votes
2answers
411 views

How can I execute a 3-way escrow with 1 unknown party?

Good Evening- I'm trying to execute an unusual 3-way transaction, where in one of the parties is not known at the start. PartyA would initiate the transaction, and provide funding. My thought was ...
4
votes
1answer
117 views

Why is my P2SH sigScript field prepended with 0x00?

I created a P2SH transaction and signed it using coinb.in. The sigScript field for this transaction is: da 00 47 3044 0220 ...
4
votes
1answer
220 views

What percentage of Bitcoins stored in a multi sign address?

I am looking for a statistic of the usage of multi-sig addresses over time. More concrete: what is the percentage of Bitcoins stored in a multi-sig address over time.
4
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2answers
2k views

Bitcoin API - createmultisig - what is redeemScript?

The Bitcoin API call of createmultisig returns two parameters - address and redeemScript. What is the latter used for?
4
votes
1answer
2k views

How to derive the private key associated with a Coinbase multi-sig vault address

When I created a multi-sig vault on Coinbase, I obtained: A master public key in BIP32 extended format, of depth 0, parent fingerprint 00000000 and child index 0. A private key in WIF format ("user ...
4
votes
4answers
229 views

In a multi-sig transaction, if one party refuses to sign, what happens to coins?

In a multi-sig transaction, if one party refuses to sign, what happens to coins? Are the coins forever lost, or is the transaction voided as if it never was attempted?
4
votes
2answers
1k views

Predict multi signature transaction size

I was looking for answer everywhere. Basically is there any way of calculate multi-sig transaction size when the transaction is creating, before the signing procedure? I was trying to find any pattern ...