Post
Topic
Board Altcoin Discussion
Re: XC uses multisig address and transaction? The answer is NO!! Look at facts here!
by
timerland
on 16/08/2014, 23:43:45 UTC
BTW, this is Gavin Andersen's example on the multisig in Bitcoin. Supercoin/mammothcoin implemented exactly the multisig technology, same is done at OpenBazaar.

https://gist.github.com/gavinandresen/3966071

XC devs please learn and hope you will have a real multisig system implemented, not just a name. Cool


Funny... do you still use AOL for your email as well.  You are using bitcoin technology and open bazaar's rationale, both without anon....  therefore nodes can be more trusted, but they have to be trusted.  XC offers trustless mixing where every node signs off and can't steal coins, if it doesn't sign, it resyncs and sends the transaction to another set.   Highly likely most transactions will be very quick, but if there is an attempt to be a bad actor they are inhibited from gaining access to the coins.   Your old technology multi sig allows bad actors/nodes to steal coins.  THis has been know for a long time, with coins before yours that you stole to write your code.   In fact you deleted a 500 post thread because it primarily discussed the inadequacies of this design.


ok since you attempted so many times, let me answer you: multisig tech is not anon, it can be used for anon system like what Supercoin/Mammothcoin did. There's no "old" multisig, there's only one, implemnted by Bitcoin and used by many.

You try to use regular tx and with some software side controls, this is completely different things. It is not multisig, it is whatever your private tech. Don't call it multisig because it is not. No wonder why Xc people never saw a XC multisig address starting with "4".

Please don't post garbage here. I think everything is very clear. If you have other facts as I asked, please post, otherwise don't waste our time.

If EVERY node has to sign(meaning multiple signers)  it is multi-sig.  It is a trustless version, unlike supers where coins can be stolen.

No, please do a google on multisig transactions, you see what it is. For example:
http://bitcoin.stackexchange.com/questions/3718/what-are-multi-signature-transactions
http://bitcoinmagazine.com/11108/multisig-future-bitcoin/

what you have is reg tx, anyone can post it in the network.

someone also posted a youtube on multisig with open bazaar implementation:
https://www.youtube.com/watch?v=oK85PCee3pU

multisig addresses can be created with RPC command such as addmultisigaddress in almost any client of the coin, including the XC client (that's how some138 created 2 multisig addresses for XC). multisig tx are those tx created on multisig address, where you have to have the required signature with private key in order to spend it (i.e. being accepted by the network). For normal raw tx, any one can post it in the network, no additional sigs required.