Author: Mike Hearn 2015-01-31 17:19:35
Published on: 2015-01-31T17:19:35+00:00
In an email exchange on the Bitcoin-development mailing list, Martin Habovštiak proposed a solution to solve security problems of servers holding huge amounts of bitcoins. The idea is an extension of BIP70 that supports making of multisig transactions dynamically. The most important thing in this proposal is that the user provides his address. The proposal is similar to the high-level overview given in https://en.bitcoin.it/wiki/Contracts#Example_2:_Escrow_and_dispute_mediation. To make 2-of-3 dispute mediation work requires implementing a wallet that supports it and the tools mediators need to manage incoming tickets, etc. The BIP70 extension is probably the smallest part of the project. Martin asked for feedback on whether this is a good way to solve the problem or if there is something better. The proposed solution or something similar implemented by wallets would be ideal according to him.
Updated on: 2023-06-09T16:05:25.518319+00:00