I'm a total beginner when it comes to multisig addresses and wallets, so I would appreciate some help from the community.
1. I know that you can make a P2SH (pay to script hash) address that can be redeemed by a multisig script. But can you create a multisig wallet for P2PKH addresses?
I see that Electrum has this option (it asks for standard vs Segwit multisig wallet). It is somehow not clear to me how the output script is redeemed in the first case, as we have to have a hash of a multisig script, not a hash of a public key.
2. Second, I wasn't able to find a decisive answer, so probably what I'm suggesting is not possible. But it won't hurt to ask.
Let's say I want to make a multisig 2 of 3. Is there a way to make one of the signatures mandatory?
This would be convenient in hypothetical situations like the following. Let's say the money belongs to me, but I want to involve other people (to possibly improve security) so I create a multisig address 2 of 3:
- the 1st key is held by me
- the 2nd key is held by a relative
- the 3rd key is held by a friend.
If the first key is mandatory, my relative and my friend cannot conspire against me and steal my money.
Is there a place in the redeem script for complex logic that is probably needed to define what keys are optional and what mandatory?
After some consideration, it occurred to me that what I'm trying to achieve can be done by a 3 out of 4 multisig:
- the 1st key is held by me
- the 2nd key is held by me
- the 3rd key is held by a relative
- the 4th key is held by a friend.
so the dilemma is solved, but still the question remains, can there be a mandatory signature in a multisig solution?
Thanks in advance and sorry if some of these questions are dumb or obvious.