Bitcoin Developers Reveals New Multisig UI Technology
Justin Moon, a Bitcoin developer who is currently organizing a boot camp, has recently decided to publish the proof of concept of a multi-signature user interface (UI) that can be used for both Bitcoin nodes and hardware wallets. He also published a small guide on how to use the technology on GitHub.
According to him, the wallets which are protected by this technology will require more than a single private key for access, which makes them considerably less vulnerable to breaches and hacks. No single party will have all the information to open up the wallet, so without a single point of entry, the funds are more protected.
His guide indicates how people can create and then configure their wallets, as well as to choose important features such as how many signatures will be needed in order to access the funds of the wallet. The technology can also be used on hardware wallets like the ones that are currently offered by Trezor, ColdCard and Ledger.
Moon revealed that his code was still in alpha testing, though. Because of this, people should not use it to guard their assets for the moment. The technology was only unveiled to be tested before the next phase is actually reached.
Has McCook, a prominent Bitcoin evangelist, affirmed that this is just the kind of project that could really elevate Bitcoin’s utility to the next level. According to him, it could be used to overcome one of the main barriers that people often find when they need to hold a lot of Bitcoin.