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Ethereum multi-sig wallets do the trust side fantastically side very well. In addition you get ways to handle lost keys, ownership changes, and the ability to

Ethereum multi-sig wallets do the trust side fantastically side very well. In addition you get ways to handle lost keys, ownership changes, and the ability to require multiple people to sign off on any action.

JonathanBeuys 4y ago
What is an "Ethereum multi-sig wallet"? Is that a piece of hardware? Multiple pieces of hardware? A piece of software?
- SparkyMcUnicorn 4y ago
  There's different ways to handle multi-sig, but https://gnosis-safe.io https://gnosis-safe.io is probably the current gold standard, and it's pretty easy to set up and use. It's a smart contract that you can add any type of owner to (regular wallet, hardware wallet, anything that can sign for transactions), then you specify how many of the owners need to sign for transactions.
  - JonathanBeuys 4y ago
    When you "set up and use" that Gnosis thing, how do you verify it is doing the right thing and has no backdoor built in?
    - SparkyMcUnicorn 4y ago
      It's open source and you can deploy everything yourself. You don't even need to use their hosted website if you don't trust it. What more could you ask for? https://github.com/safe-global/ https://github.com/safe-global/
      - JonathanBeuys 4y ago
        Open Source does not help here. You cannot read all that code you downloaded with all its dependencies and understand it. Its much too complex.
        SparkyMcUnicorn 4y ago
        1. Hard disagree on open source not helping. 2. Audited[0] 3. Have you read the core contracts source? It's really not that complex. 4. If you don't trust the honesty from this project/team, then you probably don't trust any crypto at all, which is fine. To each their own. It's used by Aave, 1Inch, Sushi, Balancer, and many more. [0] https://github.com/safe-global/safe-contracts/blob/186a21a74b327f17fc41217a927dea7064f74604/docs/audit_1_3_0.md https://github.com/safe-global/safe-contracts/blob/186a21a74...
        JonathanBeuys 4y ago
        When you say "read the core contracts", do you mean this? https://github.com/safe-global/safe-contracts/blob/main/contracts/GnosisSafe.sol https://github.com/safe-global/safe-contracts/blob/main/cont...
        SparkyMcUnicorn 4y ago
        Along with its dependencies, yes.

JonathanBeuys 4y ago

What is an "Ethereum multi-sig wallet"? Is that a piece of hardware? Multiple pieces of hardware? A piece of software?

SparkyMcUnicorn 4y ago
There's different ways to handle multi-sig, but https://gnosis-safe.io https://gnosis-safe.io is probably the current gold standard, and it's pretty easy to set up and use. It's a smart contract that you can add any type of owner to (regular wallet, hardware wallet, anything that can sign for transactions), then you specify how many of the owners need to sign for transactions.
- JonathanBeuys 4y ago
  When you "set up and use" that Gnosis thing, how do you verify it is doing the right thing and has no backdoor built in?
  - SparkyMcUnicorn 4y ago
    It's open source and you can deploy everything yourself. You don't even need to use their hosted website if you don't trust it. What more could you ask for? https://github.com/safe-global/ https://github.com/safe-global/
    - JonathanBeuys 4y ago
      Open Source does not help here. You cannot read all that code you downloaded with all its dependencies and understand it. Its much too complex.
      - SparkyMcUnicorn 4y ago
        1. Hard disagree on open source not helping. 2. Audited[0] 3. Have you read the core contracts source? It's really not that complex. 4. If you don't trust the honesty from this project/team, then you probably don't trust any crypto at all, which is fine. To each their own. It's used by Aave, 1Inch, Sushi, Balancer, and many more. [0] https://github.com/safe-global/safe-contracts/blob/186a21a74b327f17fc41217a927dea7064f74604/docs/audit_1_3_0.md https://github.com/safe-global/safe-contracts/blob/186a21a74...
        JonathanBeuys 4y ago
        When you say "read the core contracts", do you mean this? https://github.com/safe-global/safe-contracts/blob/main/contracts/GnosisSafe.sol https://github.com/safe-global/safe-contracts/blob/main/cont...
        SparkyMcUnicorn 4y ago
        Along with its dependencies, yes.