Author: Sjors Provoost 2021-04-09 12:07:05
Published on: 2021-04-09T12:07:05+00:00
A Bitcoin Secure Multisig Setup (BSMS) BIP has been drafted and undergone several important updates. One use case highlighted is combining a user's own devices in a multisig setup, with concerns raised about the encryption scheme used to generate tokens for the Coordinator. Losing multisig setup context is also flagged as an issue, particularly if one device is lost in a 2-of-3 setup without metadata. A future standard should recommend an encryption convention for descriptor data that allows decryption of a full setup file with any of the seeds. Smaller suggestions include using magic bytes for operating systems, binary format instead of plain text files, and a way for signers to communicate their capabilities. The draft can be found on GitHub.
Updated on: 2023-06-14T17:24:46.835790+00:00