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Coinbase stores one private key that we can access, and one private key that is encrypted with the user's vault password on the front-end and sent to us encrypt
by coinbase-craig 12y ago
Coinbase stores one private key that we can access, and one private key that is encrypted with the user's vault password on the front-end and sent to us encrypted for storage. The third key is the user's and we never see that.
We have no ability to access multisig vault funds without the user passphrase, which never touches our server.
- STRML 12y agoIs there a way to sign a transaction offline but still run it through Coinbase? When it comes to decrypting private keys in the browser, unless the user inspects the javascript each and every time they use the site, there is no guarantee that it hasn't been silently replaced by code that steals keys.
- adrianmacneil 12y agoYes. You can sign transactions completely independently from Coinbase, provided you have your private key, encrypted shared key, and passphrase (the two keys are provided on a sheet of paper which you print out during vault creation). https://github.com/coinbase/multisig-tool https://github.com/coinbase/multisig-tool
- coinbase-craig 12y agoYes, you can sign a transaction offline using our multisig vault recovery tool, which is open source: https://github.com/coinbase/multisig-tool https://github.com/coinbase/multisig-tool You can use it to generate a transaction payload which can be broadcast from a client of your choice, including Toshi, our open source bitcoin node: https://toshi.io/docs/#relay-transaction https://toshi.io/docs/#relay-transaction
- STRML 12y agoExcellent! Thank you for putting forth the extra effort and thinking this through. Many comparable online solutions in the Bitcoin space do not offer similar offline tools, making them a non-starter for business use.