Author: Matt Whitlock 2014-03-29 08:05:17
Published on: 2014-03-29T08:05:17+00:00
The article describes a method for dividing a Bitcoin private key into shares using Shamir's Secret Sharing Scheme. The shares can be reconstituted to form the key from any subset of sufficient size, but no individual share would reveal any information about the key. An encoding methodology is also proposed to standardize transmission and storage of shares. The complete BIP can be found on the GitHub repository, and the author is requesting it to be assigned a number and added to the bitcoin/bips repository. Comments, questions, and suggestions are welcome.
Updated on: 2023-06-08T17:06:27.644023+00:00