Author: Jason Dreyzehner 2017-12-21 17:23:49
Published on: 2017-12-21T17:23:49+00:00
A proposal has been made to improve the message signing system by using an actual Bitcoin transaction with inputs that have the script being signed. This would allow for signing by any infrastructure that supports FORKID signing, including hardware wallets and 2FA signing services, and would also generalize the message signing to allow for multi-party signing setups as complicated as those allowed by Bitcoin transactions. The proposal also suggests that this approach would unify a single approach for message signing, proof of reserve, and off-chain colored coins. Mark Friedenbach made this proposal and noted that there is an issue of size efficiency, but suggested that it could be handled by a BIP specifying a template for constructing the pseudo-transaction and its inputs from a raw script. Pavol Rusnak had previously asked if anyone was writing a BIP for Sign/Verify message against a SegWit address, but it is unclear if this proposal addresses that specifically.
Updated on: 2023-06-12T23:00:56.672918+00:00