Author: devrandom 2014-03-29 17:28:56
Published on: 2014-03-29T17:28:56+00:00
In an email conversation between Matt Whitlock and Watson Ladd, a link to a blog post about better wallet security for Bitcoin was shared. However, the post referenced an ACM paper for which no URL was provided, making it difficult for Whitlock to implement. Whitlock then mentions the need for a way to decompose a BIP32 master seed into shares in case of his sudden demise. He plans to distribute seed shares among his beneficiaries and close friends so that a subset of the shares must be joined together to reconstruct his master seed. Shamir's Secret Sharing Scheme is perfect for this use case, and he is working on extending his draft BIP to apply to BIP32 master seeds of various sizes. It is mentioned that threshold ECDSA with keys derived from separate seeds has better security properties than one seed that is split up. The main reason being that there is no single point of attack in the generation or signing.
Updated on: 2023-06-08T17:10:13.507065+00:00