[Bitcoin-development] Presenting a BIP for Shamir's Secret Sharing of Bitcoin private keys

Jan Møller jan.moller at gmail.com
Tue Apr 22 08:27:18 UTC 2014


>
>
> >  - Please allow M=1. From a usability point of view it makes sense to
> allow
> > the user to select 1 share if that is what he wants.
>
> How does that make sense? Decomposing a key/seed into 1 share is
> functionally equivalent to dispensing with the secret sharing scheme
> entirely.
>
>
I agree that it may look silly to have just one-of-one share from a
technical point of view, but from an end-user point of view there could be
reasons for just having one piece of paper to manage. If M can be 1 then
the software/hardware doesn't have to support multiple formats,
import/export paths + UI  (one for SIPA keys in one share, one for HD seeds
in one share, one for SIPA keys + HD seeds in multiple shares).

Less complexity & more freedom of choice.
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