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



Summary:

In an email exchange on April 22, 2014, Jan Møller suggested allowing users to select just one share when using a secret sharing scheme. While this may seem technically unnecessary, Møller argued that it would simplify the user experience by avoiding the need for supporting multiple formats and import/export paths. This would ultimately result in less complexity and more freedom of choice for the end-user. The idea was met with some pushback, with one person pointing out that having just one share is functionally equivalent to dispensing with the secret sharing scheme entirely. However, there was agreement that encoding M using a bias of -1 would allow M up to and including 256 to be encoded in one byte.


Updated on: 2023-06-08T17:00:49.919416+00:00