Author: Dr Maxim Orlovsky 2021-02-18 18:58:54
Published on: 2021-02-18T18:58:54+00:00
In this email conversation, Pieter and Maxim discuss the need for a dedicated purpose, or BIP (Bitcoin Improvement Proposal), for BIP340 signatures to avoid key reuse. Pieter notes that this would only be necessary for a particular way of using keys, such as single-key pay-to-taproot, and that dedicated branches would also be needed for multisig participation. Maxim proposes simplifying this by having a dedicated deterministically-derived hardened key for each use case under a single standard, which would simplify future wallet implementations. However, Pieter points out that this doesn't address the more general problem of preventing key reuse in multiple distinct groups of multisig sets. Maxim's proposal is to have a new purpose field supporting all the above: hardened derivation that supports for multisigs, single-sigs etc. The BIP proposal includes a part on how multisigs can be created in a simple and deterministic way without key reuse.
Updated on: 2023-06-14T17:22:30.176174+00:00