Author: Hugo Nguyen 2021-04-09 14:09:51
Published on: 2021-04-09T14:09:51+00:00
The process of generating a TOKEN for a multisig wallet has been noted as having a potential chicken-and-egg problem in terms of needing a pre-existing secure communication channel. However, this is actually not the case since the token only requires a single round of communication and protects multiple rounds of communication as needed. In contrast, the creation of the multisig wallet requires a much larger amount of data to be shared between signers, including XPUBs with metadata, which cannot be memorized and require at least two rounds of communication. The use of a Coordinator can help mitigate the O(n^2) communication problem and reduce the need for large amounts of sensitive data to be shared by simplifying the setup process. Signers are recommended to take certain precautions to ensure that their XPUBs are included in the final descriptor and to display the full descriptor upon user request for manual inspection. Overall, the TOKEN and Coordinator play important roles in simplifying and securing the setup process for multisig wallets.
Updated on: 2023-06-14T17:27:18.623511+00:00