Server side implementations of multi-signature escrow are only as safe as the server. Similar with server side PGP encryption.

This point seems to be lost on a lot of people.

The only trustless way to implement mutli-signature escrow is having the customer create the transaction and deposit money directly into the mutli-signature address. This address is validated by the market to have the proper keys and the escrow commences.

If the server is creating the transaction it is no longer trustless. If the service gets popular with a large amount of transactions, it can either be hacked or manipulated by admins, creating the transaction with enough keys in their control to take the funds. To the customer depositing it would require a lot of diligence to catch this attack, by the time anyone noticed they could walk away with substantial amount of money.

It may be easier to have the server create the transaction, but ease of use is not commonly associated with safety and trustlessness.


Comments


[7 Points] RosyPalm:

You're using PGP and multisig because you don't trust the DNM with your personal details/messages and BTCs.

Letting the DNM do the PGP and multisig means your trusting the DNM to protect you from the DNM itself.

It would be like grounding your teenager, taking their car keys away and locking them in a desk drawer, and then letting your teenager hold the key to the desk drawer.


[4 Points] hacks4what:

Keep doing voting Absolem/Havana, I'll just create another thread later to alert everyone how dumb your system is.


[2 Points] None:

[deleted]


[1 Points] toonboon2323:

I dont think u understand bro' your "real trustless multisig" is just making the buyer do all the work which of course is never going to happen, than them verifying the script. This ends up pushing them back to centralized which is still 1000x worse than what havana has not to say its bad but yeah i suppose in some instance they could try to game the system in a small way.

As much as you are trying to poke holes in this site i think your shooting blanks, exif data, ngix versions, using jabber over tor, giving case-scenarios where multisig can be abused, im come the fuck on if they wanted to scam they would run a centralized escrow site like everyone else youre not harassing. Show us some shit like their real ips and id's or some evidence that this site is in it for the long con, all im seeing is some butthurt pentester who didnt get paid.


[1 Points] noonehear:

This is why I only ESCROW or FE (NEVER FE!!!)


[-1 Points] ProbableFire:

You can verify the Multi-Sig wallet is using the correct keys using the redeem script before you deposit the money. Please stop spreading FUD like this. As long as the private keys never touch the market and you verify the redeem script, server side Multi-Sig is perfectly safe.