24 votes

How to Use Monero Multisignature Wallets (2/2 & 2/3)

Monero 2/2 Multisig First, the wallet to be converted to multisig must be empty. It is best to use a brand-new walllet for the purpose, although not required. It is strongly advised to make a copy of ...
JollyMort's user avatar
  • 19.9k
16 votes
Accepted

Can you have a multsig wallet with the current Monero protocol?

Yes. Essentially, you can split up the private spend key according to a (k,n)-secret sharing scheme. Then any k participants can collect the keys together to recreate this private spend key and then ...
Christopher King's user avatar
13 votes
Accepted

How to Use Monero Multisignature Wallets (2/2 & 2/3)

Disclaimer: this is written for the pre-release version and for testing purposes only (at the present moment). Use at your own responsibility and don't play with big amounts. To test yourself, you ...
JollyMort's user avatar
  • 19.9k
12 votes
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Forum Funding System donations earmarked for projects that are never completed

Monero related projects that are not finished or do not hit certain milestones will have the donated XMR/BTC/USD used for other Monero related projects. Donations are non-refundable and go into a ...
Patrick Alexander's user avatar
11 votes

ELI5: How is Multisig going to work in Monero?

OK, here's my attempt at an ELI5 on this. Please help to correct any errors in the usual manner. A multisig is a special requirement put on to a transaction so that it cannot be spent unless a ...
Gary's user avatar
  • 490
10 votes
Accepted

How does ringct interact with multisig?

RingCT will make multisig easier to implement, as the planned multisig system relies on RingtCT building blocks. Contrary to the Bytecoin multisig, Monero's will not be limited to mixin 0 ...
user36303's user avatar
  • 34.9k
8 votes

How does ringct interact with multisig?

In theory multisig was "simple" to implement in Monero, at least the way the Cryptonote whitepaper describes. It had never been implemented though. There is ongoing research to implement multisig on ...
antanst's user avatar
  • 609
8 votes
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How sophisticated will Monero's multisig capability be once RingCT is implemented and it's future plans afterwards?

Multisig will not be directly available once RingCT is merged. It will need further changes, which will build upon the RingtCT work. It is intended to allow typical N of M threshold signatures, in a ...
user36303's user avatar
  • 34.9k
8 votes
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Does Monero/the CryptoNote Protocol support multi signature wallets?

Monero does not support multisig at the moment. It will at some point, probably not very long after RingCT is merged, since that work relies on RingCT building blocks. Cryptonote itself does not ...
user36303's user avatar
  • 34.9k
7 votes
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Does Multisig have any privacy drawbacks?

No, it doesn't. Monero multisig addresses look and work exactly the same as any other Monero address, and so do transactions. All the "magic" is done off-chain between the wallets involved. The reason ...
ferretinjapan's user avatar
6 votes
Accepted

How can Monero best be used within a commercial business?

Probably multisig. Multisig is when M of N (2 out of 3, or 3 out of 5, or anything, like 2 out of 10, for example) signatures are required in order to spend. In your example, there may be a Monero ...
scoobybejesus's user avatar
6 votes
Accepted

What are the chances of Monero having a marketplace similar to Openbazaar?

That's exactly right, OpenBazaar isn't opposed to other integrations and all PRs will be reviewed. And while multisig is definitely an important part of another cryptocurrency getting accepted, adding ...
Jenn Cloud's user avatar
5 votes
Accepted

Multi-sig flexibility

Ring multisignature transactions can theoretically be implemented for any number of users and required signatures: Suppose that a group of n users wants to create a multisignature address requiring ...
254123179's user avatar
  • 4,566
5 votes

GUI MMS - a graphical monero multisig app

Would it be possible to perform all the process automatically? Not completely automatic no. Any UI would still need to prompt for user confirmations for example. Imagine a GUI app where ... and then ...
jtgrassie's user avatar
  • 19.1k
4 votes
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How high is Multi-Sig on the list of development priorities?

Core contributor moneromooo recently got funding for 450 hours of his work on Monero. However, there is no exact estimation: As before, I will not commit to any particular piece of work, but will ...
janowitz's user avatar
  • 2,681
4 votes

How does Monero's multisig work under the hood?

I can only explain it to the extent I understand myself. As written in the original post, we have user 1 with address (B, A) and user 2 with address (C, A), where B and C are individual public spend ...
JollyMort's user avatar
  • 19.9k
4 votes

How do multisig wallet seeds work?

528 hex characters is 264 bytes. The format is: threshold of signers required - 8 byte uint32 number of total signers - 8 byte uint32 multisig signing secret key of this wallet - 32 byte scalar ...
knaccc's user avatar
  • 8,468
3 votes
Accepted

Do multisig addresses share the same space as regular addresses and produce the same types of keys?

Multisig addresses are like any other address generated from independent spendkey and viewkey. In fact, there exists some spendkey which lets you spend from it alone, but nobody knows which one of all ...
JollyMort's user avatar
  • 19.9k
3 votes
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Wallet transfer/disbursement after death

Even if not implemented on wallet, you could use secret sharing - such as Shamir's secret sharing with, for example, three keys to encrypt your wallet or wordlist. Then you would keep one with ...
cryptow's user avatar
  • 249
3 votes

What are the chances of Monero having a marketplace similar to Openbazaar?

Now that RingCT has enabled multisig, we may see an implementation of it as soon as this fall. Once a stable multisig implementation is created, the best course of action will probably be for someone ...
Asha'man's user avatar
3 votes

How high is Multi-Sig on the list of development priorities?

Though I can't speak for the devs on this, I can say that the RingCT multisig design is already well fleshed out and understood. As evidenced here. With RingCT ready to be released, the work on ...
ferretinjapan's user avatar
3 votes

What are the chances of Monero having a marketplace similar to Openbazaar?

User 4matter on Reddit reported that the following was written to him in an email by Brian Hoffman and his team: So the app is really only going to be able to implement one crypto currency at a ...
sgp's user avatar
  • 8,806
3 votes

How can someone verify funds in a XMR wallet usint public viewkey?

A view only wallet only allows seeing incoming transactions. https://src.getmonero.org/resources/user-guides/view_only.html A view-only wallet can only see which incoming transactions belong to ...
jtgrassie's user avatar
  • 19.1k
3 votes
Accepted

Multisig requires new wallet or new address?

Each multisig wallet can only have a single address for incoming funds. This address will be different from any of the usual addresses created by a wallet prior to multisig conversion. You cannot ...
knaccc's user avatar
  • 8,468
2 votes

How high is Multi-Sig on the list of development priorities?

Some changes have recently been made to the Github repo for Monero’s multisig development. Until recently, they had the “DO NOT MERGE” tag associated with them. That indicated the developers were far ...
StrawbsUK's user avatar
  • 701
2 votes

What are the chances of Monero having a marketplace similar to Openbazaar?

I believe it is very likely. Decentralized marketplaces are the next step in evolution of marketplaces. Similarly when Napster was replaced first by other centralized programs and then by torrents. ...
urza.cc's user avatar
  • 699
2 votes

How does Monero's multisig work under the hood?

Apparently there is lack of information on internet about how monero multisignatures work, so we issued an article on Medium about it's inner workings. You may check it out - https://medium.com/@...
milo's user avatar
  • 121
2 votes
Accepted

Can a new participant be added onto a multisisg 2/3 scheme?

No. Once the wallet has been finalized, you cannot change the participants. Should you need to add a new participant, you would need to create a new wallet with the old and new participants then ...
jtgrassie's user avatar
  • 19.1k
2 votes
Accepted

Determining the private view key by observing the exchange of MultisigV1 strings

I'll reference part of the scheme as detailed in the commit: 2 of 2 User A (coordinator): Spendkey b,B Viewkey a,A (shared) User B: Spendkey c,C Viewkey a,A (shared) Public Address: C+B, A Both ...
jtgrassie's user avatar
  • 19.1k
2 votes
Accepted

What are the different commands for `balance [detail]` in monero-wallet-cli

The command balance detail will show your balance for each address in your current account. The command account will show you the balance in each account. The command account switch N, where N is ...
jtgrassie's user avatar
  • 19.1k

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