Enhanced Multi-Sig Privacy with Blockstream Tree Signatures
Blockstream and bitcoin core developer Pieter Wuille introduced the concept of tree signatures to create a more efficient multi-sig method with enhanced privacy. Tree signatures can be coded only in the extended Alpha scripting language and can implement M-of-N multi-sig transactions more efficiently than bitcoin scripting, as it requires more than one keyholder to participate. With tree signatures, only the keys actually used for signing are exposed to the public. For instance, in a 1-of-N multisig policy, only one key is revealed on spending and the other keys stay hidden. Bitcoin and....
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In June, Bitcoin Magazine reported that Blockstream launched Sidechain Elements, a sidechain development framework with open source code, including an experimental sidechain for developers dubbed Elements Alpha. Now, in the first technical post to appear on the Blockstream blog after the announcement of Sidechain Elements, Blockstream and Bitcoin Core developer Pieter Wuille proposes the intriguing concept of Tree Signatures, an efficient multisig method with enhanced privacy. Blockstream was formed by renowned cryptography experts, including some Bitcoin Core developers, to accelerate....
Bitcoin is often credited for being a way too anonymous and private mode of transaction. But if Blockstream's Greg Maxwell is to be believed, there is a still a scope of improvisation. The Blockstream co-founder and core developer recalled a number of privacy issues with Bitcoin, mostly related to revealable identities of Bitcoin transactors. He said that if an onlooker manages to disclose the identities of involved transactors, he can further figure out one's financial history by simply looking at his publicly available transaction records. "You can leak this information to everyone, and....
2014 has been touted by some as the 'Year of Multisig' - including most recently by Gavin Andresen at Bitcoin2014 in Amsterdam - and for one big reason: the number of services which support multi-signature transactions is increasing. In this article, Thomas Kerin charts the story of this emerging technology to date, addressing some key questions using data obtained from the block chain. If you're not sure about multisig, here's a brief primer. Multi-signature addresses allow multiple parties to partially seed an address with a public key. When someone wants to spend some of the bitcoins,....
“The Biz” kicked off its first episode with Austin Hill, former CEO of Zero Knowledge Systems and former CEO of Blockstream.
In particular, ROAST has been posited as a signature standard that could work with, and improve, threshold signature schemes such as FROST (Flexible Round-Optimized Schnorr Threshold Signatures). The research unit of Bitcoin (BTC)-focused blockchain tech firm Blockstream has published a proposal for a new type of multisig standard called Robust Asynchronous Schnorr Threshold Signatures (ROAST). It hopes to avoid the problem of transaction failures due to absent or even malicious signers and can work at scale. The term multisig or multisignature, refers to a method of transaction in which....