3 ms·
This could be a cool idea, but Bitcoin currently artificially limits the total number of public keys to 3, but that limitation will probably be lifted at some p
by nadaviv 13y ago
This could be a cool idea, but Bitcoin currently artificially limits the total number of public keys to 3, but that limitation will probably be lifted at some point.
Also, in the future, you won't really need hacks like that to make something like that work - Bitcoin has a scripting language that allows you to specify much more complex conditions than m-of-n. You could specify something like `2 of (buyer, seller, (2 of (arb1, arb2, arb3)))`. But currently, the scripting language is limited to a specific white-list of allowed script templates, and doesn't allow doing stuff like that.
- oleganza 13y agoBitcoin does not artificially limit the total number of keys. Transactions with up to 3 keys are considered "standard" by bitcoind, meaning they will be propagated and mined by default. But non-standard 5-of-8 transactions are also valid. If someone relays them and mines them, they will be valid for every node. In practical terms, non-standard transactions mean longer confirmation time, that's it.
- nullc 13y agoIt's a bit more complicated than "longer confirmation times" since normal nodes will not relay them. Realistically, production use of non-standard transactions is unwise, but we'll make anything standard that people have a usecaes for and tests for. ... though in this case, you'd really want to use a script like I described instead of inefficiently using multiple keys per player.