starcoin is a new blockchain, using the same Move language as aptos, sui, Diem, etc. as the contract language, with the advantages of high TPS and low Gas
It has been online smoothly for nearly a year, and the ecological development includes NFT, GameFi, Swap, Stablecoin, etc.
Its ecological wallet starmask as a browser plug-in wallet, is the main way to use starcoin interaction
Recently starmask has supported importing and creating multi-signature wallets, providing more usage scenarios for the community
What is the multi-signature Technology ?
Multi-signature wallets require authorization from several private key holders in order to perform wallet transactions.
The "m-n pattern" is confirmed at the time of creation, i.e., a total of n private keys are created, and a wallet address is generated by the calculation of these n private keys, and only when m holders of these n private keys jointly sign and authorize the transactions corresponding to this wallet address.
The "2-3" model is more commonly used in multi-signature wallets, where each transaction requires any two of the three private keys to be signed and authorized to complete.
What is the use of multi-signature technology ?
Blockchain wants to be decentralized, where each person's private key is in their own hands and each person is an independent and complete individual.
But this hinders the development of organizations created based on blockchain technology, such as communities with several founders, or DAO organizations.
Since only one private key is required to initiate a transaction, it is inevitable for a collaborative group of people to "use a separate private key for signature" when making a decision.
If the person managing the private key wants to do evil or if the private key is compromised, the group's property will be lost, which we don't want to see.
Multi-signature wallets can be a better solution to this problem by spreading the management to multiple people, allowing the power to be decentralized, by setting multiple wallets to manage a project together, and by setting the number of people who agree on the issue to take effect.
How starmask supports multi-signature function ?
First, you need at least three wallets
Click on "Create an account"
Select Create Multi-Signature Account
Create a multi-signature account
Multi-Signature Account Explanation
- Type: Multi-Signature Account
- Account name: Give your account a memorable name
- Number: how many people will use the multi-sig account
- Threshold: the number of people who agree to initiate a successful transaction
- Locol TempPublic Key 1: public key of the local account
- External TempPublic Key :The public key of other accounts
Write down the local public key and open the other wallet, and click Create Multi-Currency Account
Copy the public keys to each of the other two wallets, so that the public keys of each wallet cross each other
After clicking create, the address of each wallet should be the same
Use another wallet on the testnet to transfer some STC to this wallet
You can see that three multi-signature wallets see the same balance at the same time
You can try initiating a multi-signature transaction
Multi-signature transactions support hex or file mode. For the convenience of demonstration, we use hex mode to sign
Confirm transaction
After the transaction is initiated, the transaction content can be found in the transaction record of the multi-money account
Click on the record and click on "Copy MultiSig Transaction Hex" to copy the Hex of the transaction
Then open another arbitrary multi-signature account and sign the transaction Hex
Select Sign Transaction Hex
Paste the transaction Hex just copied into the text box below, click Sign to sign and initiate the transaction
Pay Gas Fee
Waiting for the completion of the transaction, you can see that the transferred STC has been received in another wallet address
credited
This completes the creation and use of multi-signature users of starmask
I will continue to share more information about starcoin
You can follow me on Twitter
You can also contact me by email