Reply To: [Asset] bitshares DACx gateway (BTSX, PTS, LTS)


Horizon: 123.50 HZ
15th July 2014 at 1:38 pm

Re: [Asset] bitshares DACx gateway

A multisig address can only send out coins if the transaction gets signed by 2 out of 3 involved addresses.

A partner needs a server to run the daemon of the coin(s) and a script we will provide.

When someone requests a withdrawal, the script checks the transaction and signs it (if valid).
This way no one has access to the funds. If one of 3 disappears the remaining 2 can agree to move the funds somewhere else and find a replacement. And if a hacker breaks into one of the servers, he’ll still have to break another one to possess 2 keys