2 of 4 persons access to the wallet

[work4btc]

Hello,

I want to allow any 2 of total 4 persons to access the wallet, so I'm thinking of the following:

1. Create a 512 bit random seed as hex "openssl rand -hex 64"
2. "Resore" wallet from that seed
3. Get 48 random words seed
4. Each of 4 persons receive 36 words from the seed (1st person receive all words except words 1-12, 2nd person receive all words except  words 13-24, etc)

So one person can not access the wallet, but any two persons can access.

What do you guys think?

[mr_burdell]

Another option would be Shamir's Secret Sharing: https://github.com/amper5and/secrets.js

You would create the seed and then split it using a tool like this.

[dabura667]

Another option would be Shamir's Secret Sharing: https://github.com/amper5and/secrets.js

You would create the seed and then split it using a tool like this.

+1

no need to reinvent the wheel. Shamir's secret 2 of 4 on the seed and you're done.

[Abdussamad]

This won't work though. To spend from the wallet even once you will need to recreate the entire seed. So from that point onwards one person can access the wallet all by himself. Splitting the seed is ok for backups but not for what you are trying to do.

You will have to wait for multisig which is due in electrum 2.0.