Princeton/Stanford/York whitepaper on Threshold Signatures
http://www.cs.princeton.edu/~stevenag/threshold_sigs.pdfDownload Link:
Here is the
link to the paper (via google scholars)
Seeing as this topic seems/is too recent to catch much attention and people are more familiar with multi-sig transactions but not with thresholds at this time, I am raising the question and discussion, should future Bitcoin development focus more on Threshold signatures “stealth multi-signatures.” or on the development of Multi-Sig transactions.
As it is Bitcoin wallets often are attacked by increasingly sophisticated cyber thieves. Coupled with the irreversibility of bitcoin transactions, that poses important security problems that decrease user confidence in Bitcoin and as a result the Bitcoin ecosystem needs a breakthrough in security.
Bitcoin should be moving towards stronger integration in multi-signatures and development to inter-linkages among different devices, the question is how do we get there and what steps should Bitcoin moves toward in the future and what seems to be the most efficient/user friendly option.
Feel free to discuss it here.
Additonal info:
https://bitcoinmagazine.com/19528/threshold-signatures-new-standard-wallet-security/https://bitcoinmagazine.com/11848/multisig-explained/What a Threshold Signature is
The ability to construct a signature is distributed among different devices (for example a computer and a smartphone), and each device receives a share of the private signing key. For individuals, threshold signatures allow for two-factor security, or splitting the ability to sign between two devices so that a single compromised device won’t put the money at risk. For businesses, threshold signatures allow for the realization of access control policies that prevent both insiders and outsiders from stealing corporate fund.
Plain English:
* Key Difference (A private key can be split and does not need to be generated/reconstructed even after repeated signing)
What a Multi-Sig is
A multi-signature feature requires the signature of more than one private key to be spent. Multi-signature can, for example, allow an organization to give access to its treasury to its members while only allowing a withdrawal if 3 of 5 members sign the transaction. It can also allow future online wallets to share a multi-signature address with their users, so that a thief would need to compromise both your computer and the online wallet servers in order to steal your funds.”
Plain English:
* Requires multiple private keys versus a threshold Signature which can split one private key among different devices.
