Post
Topic
Board Wallet software
Re: Green Wallet
by
TryNinja
on 25/12/2020, 06:32:33 UTC
No exactly. They offer 2-of-2 primarily, at least for their implementation with Blockstream. There is 2-of-3 but most would use 2-of-2 because it is what they are offered by default.

https://help.blockstream.com/hc/en-us/articles/900001391763-How-does-Blockstream-Green-s-multisig-security-work-
You are right. But even though that's the case, it looks like your coins aren't really gone if they go down or close their doors.

From your link:

Quote
If you lose access to your 2FA method, or the Blockstream Green service becomes unavailable, then the account recovery process is different depending on the type of account you are using:

2-of-2 Bitcoin
Uses nLockTime



Bitcoin Standard Account Recovery (nLockTime)

The recovery process for Bitcoin standard accounts requires pre-signed nLockTime transactions. If you have set an email address for recovery in your wallet’s settings, these nLockTime transactions will be emailed to you whenever you make a transaction.

Note: You must set an email address in advance to be able to recover a Bitcoin 2-of-2 account.
If you have not made any transactions within the timelock period (default 12 months), then the nLockTime transactions can be used to move your funds without requiring a signature from key 2 on the Blockstream servers.

To ensure that your wallet is always secured by 2FA, the app will request a redeposit for any funds that haven’t moved for the duration of the timelock period.