Re: [Bitcoin-development] Proposal to address Bitcoin malware

[Eric Voskuil <eric@voskuil.org>]

In sending the first-signed transaction to another for second signature, how does the first signer authenticate to the second without compromising the  independence of the two factors?

Sent from my iPhone

> On Feb 2, 2015, at 10:40 AM, Brian Erdelyi <brian.erdelyi@gmail.com> wrote:
> 
> Another concept...
> 
> It should be possible to use multisig wallets to protect against malware.  For example, a user could generate a wallet with 3 keys and require a transaction that has been signed by 2 of those keys.  One key is placed in cold storage and anther sent to a third-party.
> 
> It is now possible to generate and sign transactions on the users computer and send this signed transaction to the third-party for the second signature.  This now permits the use of out of band transaction verification techniques before the third party signs the transaction and sends to the blockchain.
> 
> If the third-party is malicious or becomes compromised they would not have the ability to complete transactions as they only have one private key.  If the third-party disappeared, the user could use the key in cold storage to sign transactions and send funds to a new wallet.
> 
> Thoughts?
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