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



Summary:

In this context, the author expresses their concern about space and usability while discussing necessary shares. They plan to use both M and the checksum. A conversation between Jan Møller and Matt Whitlock follows where Jan suggests encoding N-of-M in 1 byte as they do not see good use cases with more than 17 shares. However, Matt believes that machines might be able to make use of it. He also mentions that the byte that encodes M-1 is optional, so if space is a concern, it can be omitted along with the checksum.


Updated on: 2023-06-08T17:07:48.942851+00:00