From: Michael Flaxman <michael.flaxman@protonmail•com>
To: Bitcoin Protocol Discussion <bitcoin-dev@lists•linuxfoundation.org>
Subject: [bitcoin-dev] Multisig Enhanced Privacy Scheme
Date: Tue, 20 Jul 2021 19:44:19 +0000 [thread overview]
Message-ID: <CfD2116tK9mH7-X40QXgiPw8lf-DoWqz_YaqurUg-6LhTPgCjhSq94gVHg4SOChkJZtOTafy4Qd9-_TkBr1tjAOO9GZojVjr3U65ruPhLlI=@protonmail.com> (raw)
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I've been working on ways to prevent privacy leaks in multisig quorums, and have come up with a creative use of BIP32 paths.
Working code with broadcasted transactions can be found here:
https://github.com/mflaxman/blind-xpub
This scheme allows for some powerful new features:
- If an unauthorized party gains access to a BIP39 seed phrase, that party learns nothing about transactions in any multisig quorum that seed participates in
- It allows trusted-minimized third parties (e.g. a lawyer, accountant, heir, close friend, "uncle Jim" bitcoiner, collaborative custody service, etc) to hold an emergency recovery key in a multisig quorum with zero knowledge of what that key protects
This scheme has been live on mainnet for some time and has multi-vendor support from several Coordinators and Signers. I am anecdotally aware of large sums of bitcoin that are currently being HODLed with it.
My hope in publishing this is to encourage more interoperable hardware wallet / coordinator software support for enhanced privacy, along with improved UX at each step. Feedback is welcome.
Best,
Michael
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next reply other threads:[~2021-07-20 19:44 UTC|newest]
Thread overview: 2+ messages / expand[flat|nested] mbox.gz Atom feed top
2021-07-20 19:44 Michael Flaxman [this message]
2021-07-25 4:49 ` David A. Harding
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