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Title: What should I do if I'm looking to generate a new multi-signature address ? Post by: SLRman on March 16, 2016, 01:30:47 AM 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! Title: Re: What should I do if I'm looking to generate a new multi-signature address ? Post by: shorena on March 16, 2016, 01:58:23 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). 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. .. 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. Title: Re: What should I do if I'm looking to generate a new multi-signature address ? Post by: ~Bitcoin~ on March 16, 2016, 04:19:06 PM 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.
Title: Re: What should I do if I'm looking to generate a new multi-signature address ? Post by: Patatas on March 16, 2016, 04:32:30 PM 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 Title: Re: What should I do if I'm looking to generate a new multi-signature address ? Post by: twister on March 17, 2016, 12:52:57 PM 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? Title: Re: What should I do if I'm looking to generate a new multi-signature address ? Post by: El3k0n on March 19, 2016, 07:07:37 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). 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. .. 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. |