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From: Matt Whitlock <bip@mattwhitlock.name>
To: Watson Ladd <wbl@uchicago.edu>
Date: Sat, 29 Mar 2014 11:44:05 -0400
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Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] Presenting a BIP for Shamir's Secret
Sharing of Bitcoin private keys
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On Saturday, 29 March 2014, at 11:08 am, Watson Ladd wrote:
> https://freedom-to-tinker.com/blog/stevenag/new-research-better-wallet-security-for-bitcoin/
Thanks. This is great, although it makes some critical references to an ACM paper for which no URL is provided, and thus I cannot implement it.
A distributed ECDSA notwithstanding, we still need a way to decompose a BIP32 master seed into shares. I am envisioning a scenario in which I might meet my sudden and untimely demise, and I wish to allow my beneficiaries to reconstruct my wallet's master seed after my death. I would like to distribute seed shares to each of my beneficiaries and some close friends, such that some subset of the shares must be joined together to reconstitute my master seed. Shamir's Secret Sharing Scheme is perfect for this use case. I am presently working on extending my draft BIP so that it also applies to BIP32 master seeds of various sizes.
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