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From: Chris Beams <chris@beams.io>
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Subject: Re: [Bitcoin-development] Presenting a BIP for Shamir's Secret
Sharing of Bitcoin private keys
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Matt, could you expand on use cases for which you see Shamir's Secret =
Sharing Scheme as the best tool for the job? In particular, when do you =
see that it would be superior to simply going with multisig in the first =
place? Perhaps you see these as complimentary approaches, toward =
defense-in-depth? In any case, the Motivation and Rationale sections of =
the BIP in its current form are silent on these questions.
On Mar 29, 2014, at 9:05 AM, Matt Whitlock <bip@mattwhitlock.name> =
wrote:
> Abstract: A method is described for dividing a Bitcoin private key =
into shares in a manner such that the key can be reconstituted from any =
sufficiently large subset of the shares but such that individually the =
shares do not reveal any information about the key. This method is =
commonly known as Shamir's Secret Sharing Scheme. Additionally, an =
encoding methodology is proposed to standardize transmission and storage =
of shares.
>=20
> Complete BIP: =
https://github.com/whitslack/btctool/blob/bip/bip-xxxx.mediawiki
>=20
> I am looking to have this BIP assigned a number and added to the =
bitcoin/bips repository. I invite any comments, questions, or =
suggestions.
>=20
> =
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