Author: Matt Whitlock 2014-03-29 15:44:05
Published on: 2014-03-29T15:44:05+00:00
On March 29th, 2014, Watson Ladd shared a link to a blog post about new research on better wallet security for Bitcoin. However, the post referenced an ACM paper without providing a URL, making it difficult for Watson to implement the research. Despite the use of distributed ECDSA, Watson still needed a way to decompose a BIP32 master seed into shares. He envisioned a scenario where he might suddenly pass away and wanted to distribute seed shares to his beneficiaries and close friends so that they could reconstruct his wallet's master seed after his death. Shamir's Secret Sharing Scheme was deemed perfect for this use case. Watson was working on extending his draft BIP to apply to BIP32 master seeds of various sizes.
Updated on: 2023-06-08T17:11:30.996449+00:00