Presenting a BIP for Shamir's Secret Sharing of Bitcoin private keys



Summary:

In an email exchange on April 4th, 2014 at 7:14 am, Gregory Maxwell expressed concerns about private key secret sharing schemes being compatible with threshold ECDSA. He stated that without this compatibility, there would be another redundant specification. Another participant in the exchange agreed with Maxwell's concerns but raised a question about how to support secrets of sizes other than 256 bits.The participant explained that using the BIP (Bitcoin Improvement Proposal) to decompose Bitcoin private keys was a likely use case, but it was even more likely to be used for decomposing BIP32 master seeds, which could be up to 512 bits in size. Therefore, secp256k1_n could not be used as the modulus in that situation.


Updated on: 2023-06-08T17:11:03.764063+00:00