Part One – Generating a Multisignature Address
Part Two – Spending From the Multisignature Address
This part two of a two part series on muti-signature addresses and wallets. This is important technology for massively improving bitcoin security. In part one we generated a multisig address/wallet. In this part, we’lll walk you through all the steps necessary to spend the funds, going line by line through some simple python code and generating a payment in bitcoind.
In many ways, multisig addresses are the answer to most of bitcoin’s concerns and fears of theft. And now its time to scale up massive implementation for them. Originally introduced into the bitcoin client a few years ago, multisignature addresses massively more secure than regular ones. Their adoption by all wallet manufacturers is coming. But, for you techies and voyeurs, we’ll jump inside the ideas of multi-sig and even program the stuff. Hope you enjoy.
James’ code can be found here:
you’ll see multisigs part one and two
Jeff Garzik’s Bitcoin python library is here
remember to replace his connection.py file with ours for multisigs
And a little bit about bitcoind is here
but remember that it really is the most bare-bones bitcoin wallet software, but the one which allows the most programming. we love it.
And finally, here’s our lovely multisig address
So cool to see it live and in action.
Welcome to WBN’s Bitcoin 101 Blackboard Series — a full beginner to expert course in bitcoin.
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