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https://bitcointalksearch.org/topic/fusioncoin-549386
Topic: Fusioncoin MultiSig Tutorials ( user friendly GUI ) (Read 985 times)
Multisig have lots of uses, wallet sharing, increased security and escrow to say the first that come to mind.
Increased security: 2FA purposes or even help provide services like double spend prevention and instant confirmation.
Increased security: 2FA purposes or even help provide services like double spend prevention and instant confirmation.
From http://bitcoin.stackexchange.com/questions/3718/what-are-multi-signature-transactions
A multi-signature address is an address that is associated with more than one ECDSA private key. The simplest type is an m-of-n address - it is associated with n private keys, and sending bitcoins from this address requires signatures from at least m keys. A multi-signature transaction is one that sends funds from a multi-signature address.
The primary use case is to greatly increase the difficulty of stealing the coins. With a 2-of-2 address, you can keep the two keys on separate machines, and then theft will require compromising both, which is very difficult - especially if the machines are as different as possible (e.g., one pc and one dedicated device, or two hosted machines with a different host and OS).
It can also be used for redundancy to protect against loss - with a 2-of-3 address, not only does theft require obtaining 2 different keys, but you can still use the coins if you forget any single key. This allows for more flexible options than just backups.
It can also be used for more advanced scenarios such as an address shared by multiple people, where a majority vote is required to use the funds.
A multi-signature address is an address that is associated with more than one ECDSA private key. The simplest type is an m-of-n address - it is associated with n private keys, and sending bitcoins from this address requires signatures from at least m keys. A multi-signature transaction is one that sends funds from a multi-signature address.
The primary use case is to greatly increase the difficulty of stealing the coins. With a 2-of-2 address, you can keep the two keys on separate machines, and then theft will require compromising both, which is very difficult - especially if the machines are as different as possible (e.g., one pc and one dedicated device, or two hosted machines with a different host and OS).
It can also be used for redundancy to protect against loss - with a 2-of-3 address, not only does theft require obtaining 2 different keys, but you can still use the coins if you forget any single key. This allows for more flexible options than just backups.
It can also be used for more advanced scenarios such as an address shared by multiple people, where a majority vote is required to use the funds.
We offer 50K FSC for a video tutorials about using MultiSig address.
And there are bountys for anyone who can help in FusionCoin promotion.
Fusioncoin thread:https://bitcointalksearch.org/topic/annfscfusioncoin-updated-arbitrary-message-decentralized-advertisement-512149
A multi-signature address is an address that is associated with more than one private key. Multisig have lots of uses, wallet sharing, increased security and escrow. Further readings: Multisig, The Future of Bitcoin.
Part 1. Create Multisig Address
Part 2. Send to multisig address
Send to multisig address is identical to your normal transaction, just provide your multisig address as recipient.
Part 3. Spend from multisig address
Here we'll describe how Alice and Bob spend FusionCoin from their 2-of-2 multisig address. This transaction needs to be signed with two private keys, one is hold by Alice, the other by Bob.
And there are bountys for anyone who can help in FusionCoin promotion.
Fusioncoin thread:https://bitcointalksearch.org/topic/annfscfusioncoin-updated-arbitrary-message-decentralized-advertisement-512149
A multi-signature address is an address that is associated with more than one private key. Multisig have lots of uses, wallet sharing, increased security and escrow. Further readings: Multisig, The Future of Bitcoin.
Part 1. Create Multisig Address
- To create a m-of-n multisig address, we need n public keys. You can easily get public key with respect to your address.QuoteRight click any address to get public key
- Now we can create our multisig addressQuoteClick "New MultiSig" and fill in each public keys from step 1.
- You can find the newly created multisig address on "Addresses" and export this multisig address.QuoteExport MultiSig address to your partner
Part 2. Send to multisig address
Send to multisig address is identical to your normal transaction, just provide your multisig address as recipient.
Quote
Part 3. Spend from multisig address
Here we'll describe how Alice and Bob spend FusionCoin from their 2-of-2 multisig address. This transaction needs to be signed with two private keys, one is hold by Alice, the other by Bob.
- Alice reviews her balance of her multisig addresses.QuoteCheck balance
- Alice starts creating transaction from the 2-of-2 multisig address.They each has a private key of that address in their wallet.QuoteCreate Transaction
- Alice sign the transaction with her private key, and export the raw transaction. Alice then needs to send this raw transaction to Bob(Email, BitMessage, SMS...).QuoteSign and export raw Transaction
- Bob import this raw transaction, he can see the transaction is already signed by a private key. Bob reviews the transactions and sign with his private key. QuoteImport and Sign raw Transaction
- Now the transaction is signed by two private keys. Bob can simply click "Send" to broadcast the transaction.QuoteSend transaction
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