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Author Topic: Resilient Custody of Crypto-Assets, and Threshold Multisignatures  (Read 323 times)
vincenzo
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October 21, 2020, 09:09:01 AM
Merited by fillippone (2)
 #21

So basically this company, Conio, has a multisig (3keys wallet) and they provide such service to a bank, Hype by Bank Sella? This is unbelievable! You are telling me that a bank in Italy allows people to buy bitcoin so easily! That's crazy

It may sound crazy, but it's reality Wink
You can do it directly with the Hype app, which is the leading challenger bank in Italy (1.3 Million users). It's been live in production since March through the integration with Conio, and it makes extremely easy to buy and sell (real) Bitcoin in Italy.

You may read it a bit more here, when we announced the launch:
https://decrypt.co/23034/italian-bank-releases-bitcoin-wallet-despite-coronavirus
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October 21, 2020, 09:31:15 AM
 #22

However, from a technological standpoint, nothing precludes to have the "Recovery Server" handled by the user him/herself. In this case, the user is sure that s/he is in full control (having 2 pieces of information out of 3), and it still allows for emergency recovery (e.g., in case of inheritance) with the "Service Provider" if the "Recovery Server" is given to the heirs.
I did consider this use case, but it seems to be in direction contradiction to what you are proposing to solve, that being the risks and dangers surrounding self custody of private keys as you state in your very first paragraph. With this set up, with the user holding 2 of the 3 key parts themselves, they still run the risk of mismanaging their keys and losing access to their funds.

I suppose it could be a better replacement to 2FA that we see with some set ups, such as Electrum and TrustedCoin, in that the final transaction would be smaller and therefore cheaper, as well as not being obviously identifiable as a multi-sig transaction.

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October 22, 2020, 07:27:23 AM
 #23

So basically this company, Conio, has a multisig (3keys wallet) and they provide such service to a bank, Hype by Bank Sella? This is unbelievable! You are telling me that a bank in Italy allows people to buy bitcoin so easily! That's crazy

It may sound crazy, but it's reality Wink
You can do it directly with the Hype app, which is the leading challenger bank in Italy (1.3 Million users). It's been live in production since March through the integration with Conio, and it makes extremely easy to buy and sell (real) Bitcoin in Italy.

You may read it a bit more here, when we announced the launch:
https://decrypt.co/23034/italian-bank-releases-bitcoin-wallet-despite-coronavirus
Congratulations then! If I understand correctly one can keep a Conio wallet alone without having to be connected to the banking one. But if I want open it with Hype it's basically your wallet at the core. One thing, is your wallet for italians only or anyone can try it out?
It could be a good wallet for beginners who have a good protection in case of keys mismanagement.

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October 22, 2020, 07:36:13 AM
Merited by Karartma1 (1)
 #24

So basically this company, Conio, has a multisig (3keys wallet) and they provide such service to a bank, Hype by Bank Sella? This is unbelievable! You are telling me that a bank in Italy allows people to buy bitcoin so easily! That's crazy

It may sound crazy, but it's reality Wink
You can do it directly with the Hype app, which is the leading challenger bank in Italy (1.3 Million users). It's been live in production since March through the integration with Conio, and it makes extremely easy to buy and sell (real) Bitcoin in Italy.

You may read it a bit more here, when we announced the launch:
https://decrypt.co/23034/italian-bank-releases-bitcoin-wallet-despite-coronavirus

Oh, the irony.
Yesterday Paypal announced you can trade Bitcoin CFD on their platform, abiding to AML laws in a very safe and conservative way, and Bitcoin price popped.
HYPE + CONIO provided a real Bitcoin Trading platform integrated in a bank home banking platform and anyone barely noticed.

What is this? better marketing? Or the sheer power of user base numbers?

Sorry, that is off topic here...


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October 22, 2020, 09:45:49 AM
 #25

I have a question about the algorithm used to generate the signature. ECDSA has an equation of the form s = k(m + rx) where s is the signature, k is a random number, r is the first coordinate on the point R, and x is the private key. My question is what does m stand for? I could not find a definition of it in the paper, and this equation appears on page 9.

m is also used in the (2,3)-threshold MPC as si = mki + rsigmai.

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