Author: Alan Reiner 2014-03-11 00:09:56
Published on: 2014-03-11T00:09:56+00:00
Alan Reiner, the founder of Armory Wallet, expressed his opinion on BIP 10 and suggested to build up something new that is flexible and extensible. He also mentioned a list of requirements for the new format/process and planned to post it for a wider discussion after starting multisig integration into Armory. He stated that if the payment protocol can already handle all the steps such as exchanging public keys, creating multi-sig/P2SH addresses, proposing multi-sig spends, bundling meta-data needed for lite/offline nodes, aggregating signatures, and any other details, it would be awesome. Gavin Andresen shared his experience and opinion about standardizing something which is: Somebody has a great idea, they implement it, everybody agrees, "Great idea!" and they copy it. Idea gets refined by the people copying it and eventually gets standardized. According to him, multisig wallets are at step 2 right now and BIP is step 5.Drak suggested a kind of BIP for a payment protocol using multisig since setting up a multisig is quite complex and lacks ease. He believed that a BIP could go a long way in aiding future usability of multisig wallet implementations.In conclusion, Alan Reiner and Drak discussed the limitations and complexities of using BIP 10 and creating multisig transactions. Gavin Andresen shared his opinion on standardizing something and possible steps for the same.
Updated on: 2023-06-08T14:30:14.875235+00:00