Bitcoin, year 12. Alice: This year sucks. You know what’s almost as bad as 2020? Bob: Yeah? Alice: Multisig is still scary. Nunchuk: Hold my beer. It’s somewhat ironic that for a technology that reveres decentralization as its central operating principle, Bitcoin still heavily relies on single point of failure…

Definition In business and technology, a single point of failure (SPoF) is one flaw or malfunction in the design or operation that could lead to a catastrophic breakdown of the entire system and a subsequent loss of assets. Types of SPoFs Here are a few examples of SPoFs in managing…

In February, we jointly disclosed a vulnerability affecting Bitcoin multisig wallets with Shift Crypto. We explained how the vulnerability highlighted a fundamental problem with Bitcoin multisig: there was no standard on how to set up multisig wallets securely, particularly between different vendors. The lack of standard meant that multisig wallets…

Today Shift Crypto and Nunchuk jointly disclosed a vulnerability affecting multisig wallet setups that use Coldcard. However, this vulnerability has implications for all current wallet vendors and multisig solution providers. For details, please check out Shift Crypto’s blog. The quick summary is that prior to Coldcard firmware version 3.2.1 (released…

Nunchuk 0.9.7 is out and is a major upgrade over our previous releases. Here it is at a glance: [NEW FEATURE] Connect directly to a Core node. [NEW FEATURE] Verify address on-device. [NEW DEVICE SUPPORT] CoboVault in singlesig mode (multisig pending on new Cobo firmware). [NEW DEVICE SUPPORT] PIN Input…

Introduction — Money, in essence, is information. It establishes a common value system (a type of information), its distribution is a reflection of who has what (information), and the exchange of it signals which goods and services are valued in society (also information). However, relative to other types of information, money is…

Nunchuk’s mission is the proliferation of multisig. To that end, today we are excited to open source our library, libnunchuk, under the GPL license. This library handles all the heavy-lifting inside the Nunchuk desktop application. Nunchuk’s architecture differs from other wallets’ for a number of reasons. But a major one…

This slogan (perhaps coined by Bitcoin evangelist Andreas Antonopoulos) has been popular among the Bitcoin community for some time. “Keys” here refer to the private keys, implying that those who are in possession of the private keys own the bitcoins controlled by those keys. While this slogan was true in…