4 ms·
The other problem is that the shares must be combined to recover the secret and doing that safely is hard. It's not a problem if the use case is say, protecting
by Canada 6y ago
The other problem is that the shares must be combined to recover the secret and doing that safely is hard. It's not a problem if the use case is say, protecting the recovery key for my laptop by giving shares to friends. But in the case of bitcoin, who's going to be allowed to see the resulting secret? Might result in a race to steal the coins. So then there has to be more than 1 group of SSS, with each one getting key for a multisig wallet... or some other carefully executed key ceremony... and the more of such things that are required the more fragile the scheme becomes in practice.
- thinkloop 6y agoI envisioned the keys coming together at the notary's along with the rest of the estate, with a transaction immediately executed to the final recipient. This is a semi-trusted setup after-all. Also the final recipient would likely be one of the key holders present at the ceremony.