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Date: Wed, 9 Nov 2011 11:22:06 +0100
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Subject: [Bitcoin-development] multisig, op_eval and lock_time/sequence...
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Hi All,
Along with the multisig/op_eval BIPs (11/12) I am considering how the =
actual client functionality could be.
Some of you might already have the solution for this - if not I would =
like to propose the following...
Lets consider the 2 of 3 multisig - and lets say I now have some coins =
hence only redeemable using 2 key signatures. So when I want to spend =
them I would do:
1. from client1 I issue a transaction containing one of the signatures, =
with a locktime e.g. 10 minutes from now and a sequence of 0. This =
transaction is now posted to the p2p network.
2. client2 discovers the transaction and that it will affect its wallet. =
It hence modifies the transaction to includes also the second signature, =
changes the sequence to 0xFFFFFFFF=3Dfinal and the lock_time to 0 and =
retransmits the transaction.
3. The transaction is now valid and final and will be approved by the =
miners.
However, for this setup to be possible, we need to reenable the =
replacement of transaction in the client....
Anyone working on this now ?
Alternatively, the transactions would need to be sent between clients =
using another protocol...
Cheers,
Michael
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