Multi-signature Wallet / Transaction Signing on SafeNetwork

It’s a feature that would enable distributed consensus before any native SafeNetwork Tokens are able to move. Without it, wrapping SNT into any smart-contract (on ETH/BSC/etc.) would only require one signature and that is the creator and owner of the wrapped token address.

By introducing the multi-signature wallet the surface attack vector is greatly reduced and now requires multiple (independent) signatures to move any funds.

For example, if a collective wants to launch a shared wallet now each entity who owns a key can verify given data before every person agrees to sign it and a transfer is made. Or less secure but more flexible is a n-of-k multi-signature wallet, where for example one need 2-of-3, 3-of-5, 5-of-10, etc.

In future I believe that this kind of feature will also be the only way wrapped tokens can exist safely and with consensus without any single entity or hacker running away with the funds.

Something that I would also like is an option to add or remove a signature if all or all-1 agree.

3 Likes

Multi-sig is planned where a data object is owned by more than one and a n-of-k sigs will be required.

Not sure when it is planed to be implemented.

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Current idea is to just have BLS keys, which can be a single key, or keyshares. So with this you simplify things, leaving multi-sig to the app layer, and just have to sign your messages to the network.

(This needs some tweaks to how we handle signing at the moment, but work was started on that a couple months back, but put on hold for the moment… essentially allowing all ops to be signed by something external to sn_client. )

5 Likes

Ren actually is just using one key, but the key is divided through multiparty computation such that no party knows the key (unless they are able to collude with others, similar to multi-sig)