Author: Brian Erdelyi 2015-02-02 17:40:11
Published on: 2015-02-02T17:40:11+00:00
The concept discussed in this context is the use of multisig wallets to protect against malware. This can be achieved by generating a wallet with 3 keys and requiring a transaction that has been signed by 2 of those keys, one of which is placed in cold storage and another sent to a third-party. Transactions can be generated and signed on the user's computer and sent to the third-party for the second signature, allowing for out-of-band transaction verification techniques before the transaction is sent to the blockchain.If the third-party becomes compromised or malicious, they would not have the ability to complete transactions as they only possess one private key. In such cases, the user can use the key in cold storage to sign transactions and send funds to a new wallet. Overall, this approach provides an added layer of security against malware attacks.
Updated on: 2023-06-09T16:08:05.183675+00:00