Author: Andrew Chow 2017-08-18 22:11:14
Published on: 2017-08-18T22:11:14+00:00
A proposal has been made to standardize the format for unsigned and partially signed transactions. The proposed format is a binary transaction format that can hold signatures for an input while it lacks a complete set of signatures. This information will be enough for a signer to produce signatures for the transaction, and all necessary information will be provided in the transaction; thus, the signer can be offline. Currently, creating unsigned or partially signed transactions is dependent on implementation, making it difficult for people who use different wallet software to do so easily. Therefore, this document aims to create a standard and extensible format that can be used between clients to enable people to pass around the same transaction to sign and combine their signatures. Furthermore, the proposed format is designed to be easily extended for future use, which is harder to do with existing transaction formats.This format will also allow offline signers such as air-gapped wallets and hardware wallets to sign transactions without needing direct access to the UTXO set, reducing the risk of being defrauded. The full text of the proposal can be found on GitHub.
Updated on: 2023-05-20T03:26:38.640747+00:00