Author: Brian Erdelyi 2015-02-02 19:58:11
Published on: 2015-02-02T19:58:11+00:00
The effectiveness of multiple signatures in enhancing security depends on the independence of the secrets used. If these secrets are not independent, the benefit of using multiple signatures in enhancing security is reduced to making it harder for an exploit to be written. However, this does not guarantee any real benefit for the user. When two out of three private keys are compromised, there is no gain in security. While the likelihood of this happening is low, it is still possible. As more malware targets bitcoins, finding ways to verify transactions before they are completed is essential. Users need not feel burdened by verification methods.
Updated on: 2023-06-09T16:08:23.383995+00:00