Free Ross Ulbricht Campaign Receives First Bitcoin Cash Multisig Transaction on the BCH Network
- Ulbricht is currently serving two life sentences without the possibility of parole because he was found to be guilty of creating a popular online marketplace ‘Silk Road’.
- Silk Road was a platform that allowed users to freely trade various goods, services and other items of value using BTC and other popular alt-assets.
As per an all-new report released late last evening, Mark B. Lundeberg along with Chris Pacia — independent developers who are well known within the global crypto scene — have been able to successfully facilitate the world's first Schnorr multisignature (multisig) transaction. In this regard, it is being reported that all of the money processed through this tx will be donated towards the Free Ross campaign.
From a more technical perspective we can see that the tx's decoded OP_RETURN contained the following message:
“BCH is about giving people the freedom to make their own choices, to pursue their own happiness, however they individually see fit.”
At this point in the article, it is important to highlight what multiple signatures (keys) are and how they can be used to process voluminous monetary tx’s in a safe and secure manner. As the name suggests, multi-sig payment protocols require two or more parties to verify each individual transaction so that no one participant can take control of a particular account at any given time.
In this regard, it should also be pointed out that Schnorr Signatures became part of the BCH ecosystem after the currency’s recent network upgrade, which took place on the 15th of this month.
Lastly, minutes after successfully completing the aforementioned tx, Lundeberd, and Pacia released the following message on Twitter:
“@MarkLundeberg @ChrisPacia and I made the first Schnorr multisignature in history. The transaction is a donation to @Free_Ross. Proof will be published shortly.”
Other Details Worth Highlighting
- The technology supporting the aforementioned Schnorr Signatures is still quite experimental in nature and thus casual enthusiasts should stay away from this method for now — since it could lead to a loss of funds.
- Additionally, while Schnorr signatures provide their users with a higher level of tx efficiency and speed, they also come laden with a number of privacy improvements.
- In total, Lundeberg and Pacia donated a total of $35.97 USD towards the Free Ross campaign.
In closing out this piece, we should remind our readers that the Free Ross movement seeks to bring forth the plight of people like Ross Ulbricht — who was allegedly the mastermind responsible for creating and governing Silk Road, a website that allowed people to use BTC and other digital currencies for completing their payments.
As things stand, Ulbricht is serving two life sentences (plus 40 years) without the possibility of parole — for a crime which many experts believe is “very tame”, since he only served to create a platform that brought together a number of buyers and sellers from across the globe.