What should I do if I'm looking to generate a new multi-signature address ?

El3k0n

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Quote from: shorena on March 16, 2016, 08:58:23 AM

Quote from: SLRman on March 15, 2016, 08:30:47 PM

I have an electrum wallet installed on my computer and I wish to use a random address from it to use for the escrow. Is it a bad idea ?

No (at least not the address part, I cant judge whether you are suitable to do escrow or not).

Quote from: SLRman on March 15, 2016, 08:30:47 PM

In the electrum wallet I can see the private and public keys of the address so it should be all good ? t

though I don't understand why I can see 3 different public keys to be related to one address? why is there 3 ?

2-3 multi sig addresses have 3 public keys and 3 private keys. Any 2 private keys can spend the coins.

Quote from: SLRman on March 15, 2016, 08:30:47 PM

.. upon generating a new multi-sig address, I'm asked for a public key but I'm not sure which to choose of that 3 for that, please help ? or just choose random?

Thanks!

You need to get the public keys from the other 2. You also need make sure you all use the same order, e.g.

pubkey#1
pubkey#2
pubkey#3

and

pubkey#2
pubkey#3
pubkey#1

result in different addresses.

Thanks for this detailed breakdown, I was also confused.

twister

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Quote from: ~Bitcoin~ on March 16, 2016, 11:19:06 AM

Is there any web wallet that have this feature of creating multisign addresses? i have asked this within this topic to not increase the thread about same thing here.

Bitgo and Coinkite also provide multisig wallet creation I believe but its not safe, its better if you create a multisig wallet safely on your desktop or an offline machine because the whole point of having a multisig is to make sure your coins are more secure, isn't it?

Patatas

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Quote from: ~Bitcoin~ on March 16, 2016, 11:19:06 AM

Is there any web wallet that have this feature of creating multisign addresses? i have asked this within this topic to not increase the thread about same thing here.

Yes ,https://xapo.com/ IE Xapo .They do have multi sig wallets usually the addresses starting with digit 3xxx. Other such service is https://copay.io/ ,haven't really used any of them ,you can do your researches.Not really recommended to use an online wallet for multi-sig purposes.Try electrum ,a better alternative,here is a small tutorial on how you can create a multi-sig wallet using it http://docs.electrum.org/en/latest/multisig.html

~Bitcoin~

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Is there any web wallet that have this feature of creating multisign addresses? i have asked this within this topic to not increase the thread about same thing here.

shorena

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No I dont escrow anymore.

Quote from: SLRman on March 15, 2016, 08:30:47 PM

I have an electrum wallet installed on my computer and I wish to use a random address from it to use for the escrow. Is it a bad idea ?

No (at least not the address part, I cant judge whether you are suitable to do escrow or not).

Quote from: SLRman on March 15, 2016, 08:30:47 PM

In the electrum wallet I can see the private and public keys of the address so it should be all good ? t

though I don't understand why I can see 3 different public keys to be related to one address? why is there 3 ?

2-3 multi sig addresses have 3 public keys and 3 private keys. Any 2 private keys can spend the coins.

Quote from: SLRman on March 15, 2016, 08:30:47 PM

.. upon generating a new multi-sig address, I'm asked for a public key but I'm not sure which to choose of that 3 for that, please help ? or just choose random?

Thanks!

You need to get the public keys from the other 2. You also need make sure you all use the same order, e.g.

pubkey#1
pubkey#2
pubkey#3

and

pubkey#2
pubkey#3
pubkey#1

result in different addresses.

SLRman

member

Activity: 100

Merit: 10

I have an electrum wallet installed on my computer and I wish to use a random address from it to use for the escrow. Is it a bad idea ?
In the electrum wallet I can see the private and public keys of the address so it should be all good ? t

though I don't understand why I can see 3 different public keys to be related to one address? why is there 3 ?
.. upon generating a new multi-sig address, I'm asked for a public key but I'm not sure which to choose of that 3 for that, please help ? or just choose random?

Thanks!

Topic: What should I do if I'm looking to generate a new multi-signature address ? (Read 628 times)