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Interesting to think that the private keys for these funds will most likely be split across several pieces of paper (https://en.wikipedia.org/wiki/Shamir%27s_Se
by 1ba9115454 8y ago
Interesting to think that the private keys for these funds will most likely be split across several pieces of paper (https://en.wikipedia.org/wiki/Shamir%27s_Secret_Sharing https://en.wikipedia.org/wiki/Shamir%27s_Secret_Sharing) and stored in geographically distributed safes.
That's the only way I can think of doing it offline.
Combining the pieces of paper together to generate the key would need to be done via a signing ceremony. I think coinbase have a patent for this.
- pests 8y agoIs this not basically what the DNS root signing ceremony is?
- kanzure 8y agoDNSSEC signing ceremony is significantly more transparent and public :-) https://www.iana.org/dnssec/ceremonies https://www.iana.org/dnssec/ceremonies
- weiming 8y agoThere is an older post [1] describing how they do this, curious how much it changed since then. [1] https://engineering.coinbase.com/how-coinbase-builds-secure-infrastructure-to-store-bitcoin-in-the-cloud-30a6504e40ba https://engineering.coinbase.com/how-coinbase-builds-secure-...