Author: Matt Whitlock 2014-03-29 14:55:54
Published on: 2014-03-29T14:55:54+00:00
Jeff Garzik and Matt Whitlock had a discussion on Bitcoin's multisig capabilities. Whitlock argued that multisig would not allow for the topology he described, where an organization requires consent from specific individuals to sign a transaction. To achieve this, Whitlock suggested using hierarchical threshold topologies or Shamir's Secret Sharing. However, Garzik disagreed and said that Bitcoin's script language could handle the use case by adding conditionals such as OP_IF to allow for 'multisig AND multisig' type boolean logic entirely in script, which provides more flexibility than a single CHECKMULTISIG affords. Nevertheless, Garzik pointed out that Bitcoin's scripting language is mostly useless due to the requirement that scripts match one of a select few "standard" templates to be allowed to propagate across the network and be mined into blocks. He expressed his dislike for IsStandard and wished it would die.
Updated on: 2023-06-08T17:03:58.320956+00:00