Author: kjj 2014-03-11 00:04:14
Published on: 2014-03-11T00:04:14+00:00
A discussion on Bitcoin development mailing list took place in 2014 regarding the BIP10 protocol for multisig and coinjoin. It was noted that there were issues with the protocol, and a minor change would make it more useful in the generic case. Alan Reiner had tried to implement it two years prior when Armory implemented offline-transactions, but nobody wanted to help improve it. Despite its deficiencies, Reiner continued to use BIP10 and wanted it to be useful for multisig. Gavin Andresen suggested the best process for standardizing something is for someone to have a great idea, implement it, and then have everyone agree and copy it. Mutisig wallets were at step 2 at the time, with BIP being step 5 in Andresen's opinion. A suggestion was made to create a BIP for a payment protocol using multisig, as setting up multisig was complex and could lead to malicious parties stealing funds. If there was a BIP, it would aid future usability of multisig wallet implementations.
Updated on: 2023-06-08T14:36:30.130624+00:00