4 ms·

I haven't read how the wallets are implementing multisig but what is this out-of-band protocol you are talking about? If I want to spend coins from a multisig

by kang 11y ago

I haven't read how the wallets are implementing multisig but what is this out-of-band protocol you are talking about? If I want to spend coins from a multisig address, I create a transaction, sign it with my key and send it to the other party who can sign it and relay it or send it back to me and I can relay it. It's a very simple protocol.

walls 11y ago
> and send it to the other party Probably that part.
- kang 11y ago
  It can be sent over email or anything , doesn't even need security.
  - walls 11y ago
    Nobody is saying it's difficult, just that it's out of band.
    - kang 11y ago
      OP did mean it as an important and big thing & even the links pointed to wallets pointing each other out over not doing this (seriously?)
wslh 11y ago
The way you send it to another party is not standarized. Think in your grandpa, he would want to just create a transaction while everything else happens behind the scene. Sending an email is a manual process and you need to recheck if the other party received it. Beyond this, there is a bigger reason: if you want a risk service like Sig3 or CryptoCorp you should adapt the system to every multisig wallet while if you have an standarized way to communicate you wrote an standard system.
- kang 11y ago
  You can send an email(messaging) behind the scene, need not be manual nor is a task that require standardization. Sig3 is more secure theoretically but its an overkill & non-requirement nevertheless. Why not have Sig4? Sig100 would be theoretically even more secure!
  - wslh 11y ago
    > You can send an email(messaging) behind the scene So... how Coinbase handles it, what is the format? Coinkite? Copay? The nth popular wallet? You can easily see that you need a standarization, it doesn't matter if its by email, morse, or slack. Now, Sig3 is the name of a service, with Sig3 you can use any n-m wallet.

by kang 11y ago

walls 11y ago

> and send it to the other party Probably that part.

kang 11y ago
It can be sent over email or anything , doesn't even need security.
- walls 11y ago
  Nobody is saying it's difficult, just that it's out of band.
  - kang 11y ago
    OP did mean it as an important and big thing & even the links pointed to wallets pointing each other out over not doing this (seriously?)

wslh 11y ago

The way you send it to another party is not standarized. Think in your grandpa, he would want to just create a transaction while everything else happens behind the scene. Sending an email is a manual process and you need to recheck if the other party received it. Beyond this, there is a bigger reason: if you want a risk service like Sig3 or CryptoCorp you should adapt the system to every multisig wallet while if you have an standarized way to communicate you wrote an standard system.

kang 11y ago
You can send an email(messaging) behind the scene, need not be manual nor is a task that require standardization. Sig3 is more secure theoretically but its an overkill & non-requirement nevertheless. Why not have Sig4? Sig100 would be theoretically even more secure!
- wslh 11y ago
  > You can send an email(messaging) behind the scene So... how Coinbase handles it, what is the format? Coinkite? Copay? The nth popular wallet? You can easily see that you need a standarization, it doesn't matter if its by email, morse, or slack. Now, Sig3 is the name of a service, with Sig3 you can use any n-m wallet.