Private Key storage options and compatibility

Question

Thank you for reading. In your External Key Management Tutorial, it is mentioned:

a bitcoin-compatible software library or hardware could be used to sign the transaction without ever revealing the private key to MultiChain itself.

Question 1: Would Bitkey be a choice to use with Multichain? If not, does Multichain recommend another (will not assume any form of affiliation)?

Question 2: Would using an external key management device (like a USB) cause any form of compatibility problems such as, multisig transactions no longer working or cannot be created? (will not hold your word on this, Multichain is doing an impeccable job already, just need a point in the right direction for this matter)

 

My Goal is: To offer a physical private key storage device to use as the mechanism to:

1. Log into my Web Application

2. Sign rawtransactions for submission or approvals

 

 

Answer 1

We can't comment specifically on Bitkey, so you would need to try it. MultiChain's transactions follow bitcoin's format exactly, but some hardware security devices might not like some of the data inside MultiChain's transactions, which don't appear in most bitcoin transactions. We are currently in discussions with one hardware device manufacturer about official certification.

To answer your second question, there's no reason why using a hardware security device would prevent multisignature transactions working.

Comments

Thank you, hopefully, your discussions will turn out fruitful for you.