![]() We stumbled over several issues, which resulted in responsible disclosures to Trezor, Coldcard and Ledger (as discussed here). We launched the BitBox02 at the end of September and finally had some time to look at other hardware wallet implementations, also in order to evaluate how much effort is required to properly add multisig ourselves. After realizing how important it is to handle change addresses similarly to receive addresses earlier this year, we were getting more curious about how other hardware wallets handle multisig. When implementing experimental support for multisig in the BitBoxApp, I made my colleague benma aware that the receive address screen of his Trezor cannot be trusted in case of multisig (see below for more details). Why are we investigating our competitors? Included are responsible disclosures we made to SatoshiLabs (producing Trezor) and Ledger in this regard, which we haven’t published before. However, this article explains why the increased complexity of using multisig instead of singlesig has its own pitfalls. This is why many people in the field recommend that everyone should use multisig to secure their coins. If you choose a threshold bigger than one, an attacker who learns one of the keys can still not steal your funds. You can determine both the overall number of keys and the threshold required to spend the coins. This is known as multisignature, or multisig for short, which requires multiple signatures to authorize a Bitcoin transaction. ![]() Instead of holding your bitcoins with a single set of keys, you can also hold your bitcoins with several sets of keys. ![]()
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