Author: Jeff Garzik 2014-03-29 13:27:36
Published on: 2014-03-29T13:27:36+00:00
In a discussion about Shamir's Secret Sharing Scheme, it was noted that multi-signature transactions offer more fine-grained control of security at the transaction level than Shamir does. With Shamir, a reconstituted private key can be used to control anything that key controls, necessitating policies such as "no key reuse." While initially impressive, the complexity and DIY factor of the scheme make it less appealing. Nonetheless, the value of an informational BIP on the topic is recognized. The discussion was held among Bitcoin developers and open source evangelists, including Jeff Garzik of BitPay, Inc.
Updated on: 2023-06-08T17:02:50.774807+00:00