Saturday, December 3, 2022
HomeBitcoinmulti signature - Setting Up Multisig Accurately

multi signature – Setting Up Multisig Accurately

I am trying into establishing a multisig setup utilizing Sparrow, and needed to see if anybody can discover any flaws in my arrange, and doubtlessly accessing my funds if I lose a key.

arrange = 2 of three

Key retailer 1 = Passport HWW

Key retailer 2 = Chilly Card HWW

Key retailer 3 = Gordian Seed Device (cell scorching pockets)

I’ll arrange the Chilly Card and Passport as per the directions within the under video

Seeds for these will likely be written onto a seed plate (one seed phrase per plate).

After establishing the Gordian Seed Device and importing to Sparrow/exporting again to the seed instrument, I’ll deposit (the smallest quantity doable) into the multisig pockets.

I’ll then restore the pockets utilizing all 3 seeds to a distinct chilly card and passport machine, and import the pockets as a brand new pockets in Sparrow.

If the funds can be found within the pockets, I’ve the seed phrases all saved appropriately. I wipe the unique chilly card and passport HWWs.

The seed plates for the two HWWs will likely be saved robustly at completely different bodily areas.

I’ll destroy the copy of the seed phrase for the gordian seed instrument.

I’ll then check spending the BTC on the pockets in 3 separate transactions (signing with all 3 of the doable combos of the two of three key shops.) If I can full these 3 transactions I’m glad I’ve the power to entry my BTC ought to any 1 of the three keystores develop into compromised.

My questions are

  1. is there any apparent flaw on this form of storage setup?

and extra importantly

  1. the one different info I’ll want within the occasion that considered one of my keys turns into bodily compromised is the xpub/zpub of every of the three keys?

Moreover storing these xpub/zpubs collectively (while it might create a privateness threat) would not create a safety threat? e.g with every of the two seed plates I’d retailer the xpub/zpub for ALL 3 KEYS on an encrypted SD card. If somebody one way or the other managed to achieve entry to a seed plate (extremely unlikely given the strong bodily arrange, however worst case), they’d have entry to 1 of the three seed phrases, AND entry to all 3 xpub/zpubs? This could not give them entry to my BTC, and I’d nonetheless have entry to it and will spend it (switch it to a different pockets) when it turned obvious one of many seed phrases might be compromised?

I simply need to be certain I am not taking pictures myself within the foot through the use of a extra refined setup than an ordinary chilly storage. In actuality I take into account the prospect of constructing a mistake establishing a multisig resolution and exponentially extra likley menace than commonplace chilly storage changing into compromised.



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