Presenting a BIP for Shamir's Secret Sharing of Bitcoin private keys



Summary:

The email conversation discusses the use of a new script type, IsStandard, in Bitcoin's scripting language. While IsStandard is not popular, it can still be added if needed. The rollout of version 0.9, which included the OP_RETURN script, went smoothly and if another new script type were to be added, it would likely be usable within a month. The conversation then shifts to the use of multisig in Bitcoin's script language. Jeff Garzik suggests that the use case described by Matt Whitlock can be handled using conditionals such as OP_IF in the script. However, Whitlock argues that Bitcoin's scripting language is limited by the requirement that scripts match one of a few standard templates in order to be allowed to propagate across the network and be mined into blocks. He expresses his dislike for IsStandard and wishes it would die.


Updated on: 2023-06-08T17:04:28.608862+00:00