Author: Damian Williamson 2017-12-21 11:19:52
Published on: 2017-12-21T11:19:52+00:00
Damian Williamson suggests that signing a message is an important feature whether it is with Bitcoin Core or some other method. He believes that it would be worthwhile to update it for SegWit addresses. A signed message helps to verify that the message is indeed what was said. In response to a query by Pavol Rusnak about writing a BIP for Sign/Verify message against a SegWit address, Mark Friedenbach suggests a solution for message signing. Instead of rejiggering the message signing system to support non-P2PKH scripts, he proposes that the signature be an actual bitcoin transaction with inputs that have the script being signed. This approach has several benefits like enabling signing by any infrastructure out there, allowing multi-party signing setups, and unifying a single approach for message signing, proof of reserve and off-chain colored coins. While there is an issue of size efficiency, this can be handled by a BIP that specifies a template for constructing the pseudo-transaction and its inputs from a raw script.
Updated on: 2023-06-12T23:01:21.577250+00:00