[Bitcoin-development] Proposal to address Bitcoin malware

Martin Habovštiak martin.habovstiak at gmail.com
Mon Feb 2 17:54:55 UTC 2015


Good idea. I think this could be even better:

instead of using third party, send partially signed TX from computer
to smartphone. In case, you are paranoid, make 3oo5 address made of
two cold storage keys, one on desktop/laptop, one on smartphone, one
using third party.
If it isn't enough, add requirement of another four keys, so you have
three desktops with different OS (Linux, Windows, Mac) and three
mobile OS (Android, iOS, Windows Phone), third party and some keys in
cold storage. Also, I forgot HW wallets, so at least Trezor and
Ledger. I believe this scheme is unpenetrable by anyone, including
NSA, FBI, CIA, NBU...

Jokes aside, I think leaving out third party is important for privacy reasons.

Stay safe!

2015-02-02 18:40 GMT+01:00 Brian Erdelyi <brian.erdelyi at gmail.com>:
> Another concept...
>
> It should be possible to use multisig wallets to protect against malware.  For example, a user could generate a wallet with 3 keys and require a transaction that has been signed by 2 of those keys.  One key is placed in cold storage and anther sent to a third-party.
>
> It is now possible to generate and sign transactions on the users computer and send this signed transaction to the third-party for the second signature.  This now permits the use of out of band transaction verification techniques before the third party signs the transaction and sends to the blockchain.
>
> If the third-party is malicious or becomes compromised they would not have the ability to complete transactions as they only have one private key.  If the third-party disappeared, the user could use the key in cold storage to sign transactions and send funds to a new wallet.
>
> Thoughts?
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