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Scheme for starting a masternode without using the collateral private key

Discussion in 'Development Tech Discussion' started by dashameter, Jan 31, 2018.

  1. dashameter

    dashameter New Member

    Jan 31, 2018
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    If there was a way to start a masternode without using the private key of the collateral, a 3rd party service could be used to monitor and restart the masternode without concern over the loss of funds. Also when on the go, one could upgrade and restart a masternode without having to bring the collateral private key along.

    Here is a simple scheme using the already existing bip32 xpub:

    1. Configure the bip32 xpub public address in the masternode config file.
    2. Send collateral to bip32 derived path 1
    3. To start the masternode, broadcast to the network: xpub public key and the start command signed with the private key of bip32 derived path 2

    Using the xpub public key the network will be able to verify that:

    1. The collateral is present in derived path 1
    2. The start command issuer controls that collateral since he is in possession of private key of derived path 2

    Now one can hand over starting control of the masternode to a 3rd party or bring the private key of derived path 2 along on the road without concern of loosing the collateral.

    Please share your thoughts, criticism and implementation considerations with this or similar schemes. Thanks!
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  2. U-Zyn Chua

    U-Zyn Chua New Member

    Mar 20, 2017
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    I also wonder if it is currently possible to pre-signed the masternode start message on an air-gapped computer before broadcasting it.