With the recent turmoil among the markets, I have been looking at methods to protect money that sites hold in case they are hacked.
Just to clarify a few things:
1) I think Silk Road 2 was an inside job or scam, not a hack.
2) I agree Multi-Sig is safer, but the reality is most buyers are less inclined to use it.
3) This does not protect you from the site owner doing a run or scam. It aims to minimize damage hackers can do by locking the funds away from them.
https://cdn.anonfiles.com/1392450943593.jpg
Any feedback welcomed.
You're not going to get any responses because your diagram makes little sense. I am not following anything at all with your little arrows and PGP encrypted labels.. And I'm very well versed with the technology