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fake multisig

a guest May 20th, 2016 157 Never
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  1. "Multisig" One-time-use Cold Storage
  2.  
  3. Useful to prevent theft due to a compromised computer during generation ("computer A,B"). Can be used with two (or more, any N-of-N, or even N-1 of N with some extra params) separate parties for long term escrow or custodial storage.
  4. The spending/redemption process MUST be secure and the account never reused afterwards.
  5.  
  6. 1. User A OR B choose random viewkey d. Keeping it secret is only a privacy consideration.
  7. 2. D = dG;
  8.  
  9. 3. User/computer A randomly choose factor a.
  10. 4. A = aG;
  11.  
  12. 5. User/computer B randomly choose factor b.
  13. 6. B = bG;
  14.  
  15. Spend pubkey C = A + B;
  16.  
  17. Public Address = C || D;
  18.  
  19. User/computer A stores a,d,Public Address.
  20. User/computer B stores b,d,Public Address.
  21.  
  22. At the time of account recovery (for spending), generate c = a + b. Restore non-deterministic c,d in simplewallet (etc).
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