Author: Martin Habovštiak 2015-02-02 17:54:55
Published on: 2015-02-02T17:54:55+00:00
The email suggests a concept of using multisig wallets to protect against malware. A user could generate a wallet with three keys and require a transaction that has been signed by two of those keys. One key is placed in cold storage, and another sent to a third party. It is now possible to generate and sign transactions on the user's computer and send this signed transaction to the third party for the second signature. This permits the use of out-of-band transaction verification techniques before the third party signs the transaction and sends it to the blockchain. If the third party is malicious or becomes compromised, they would not have the ability to complete transactions as they only have one private key. If the third party disappeared, the user could use the key in cold storage to sign transactions and send funds to a new wallet. The email also suggests that the scheme could be made more secure by adding more keys, including hardware wallets such as Trezor and Ledger. The email concludes by stating that leaving out a third party is important for privacy reasons and provides a link to the Go Parallel Website, which is sponsored by Intel and developed in partnership with Slashdot Media. The website is described as a hub for all things parallel software development, from weekly thought leadership blogs to news, videos, case studies, tutorials, and more.
Updated on: 2023-06-09T16:11:40.721401+00:00