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Decentralized Multi-Signature Solutions for Secure Bitcoin Transactions

Bitalo offers decentralized, peer-to-peer multi-signature solutions for Bitcoin transactions. No banks or third parties are needed, ensuring a secure and encrypted system. Protect your coins and maintain control with no trust required.

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Decentralized Multi-Signature Solutions for Secure Bitcoin Transactions

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  1. Decentralized multi-signature solutions for Bitcoin

  2. Bitcoin? decentralized, peer to peer.... no banks or 3rd parties needed secure system / everything with encryption somehow anonymous... -> SO WHAT? www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  3. Status Quo - Intermediary www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  4. Status Quo - Intermediary www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  5. Status Quo - Intermediary www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  6. Status Quo - Intermediary www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  7. Status Quo - Intermediary www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  8. Problem solved? – Bitcoins Centralized Service?? Give up control over my coins?? Security issues with hackers? Sites close over night??? -> SAME PROBLEM AS BEFORE! Exchange www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  9. Centralized services www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  10. Centralized services www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  11. Centralized services Money goes via a CENTRAL bank account Bitcoins go via central server www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  12. Centralized services www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  13. Get Bitcoins DO NOT give up control over your coins DO NOT allow even the administrators to access your coins IS NOT possible that Hackers can steal coins, even when the server is compromised DO NOT need to trust the trading party, as still an escrow is in place? EVEN when the site is closed? What if a service exists where you…. www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  14. Decentralized services www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  15. Decentralized services www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  16. Decentralized services www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  17. Trick: Multi-Signature wallets www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  18. “Normal” Transaction How does it work? www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  19. Multi-Signature Get two or more Bitcoin addressees. Combine them using addmultisigaddress JSON-RPC command As a result, you will get a special Bitcoin address starting with „3”. The resulting Bitcoin address is fully functional and can receive coins. You can create different combinations of M-of-N addresses. It means that you can specify how many private keys are needed to spend the coins. Part 1: Create multi-signature address www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  20. Multi-Signature Create a transaction draft using createrawtransaction JSON-RPC command Sign the resulting transaction data with one of private keys, utilizing signrawtransaction command provide it with correct details, which may include: public key and redeem script Pass partially signed transaction data to other party, which repeats this process Finally, you broadcast the transaction to the network (using sendrawtransaction or another means) Part 2: Spending coins from multi-signature wallets www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  21. Multi signature wallets www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  22. Multi signature wallets encrypted www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  23. Hackers and admins see encrypted wallets encrypted www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  24. Two-Factor authentication

  25. And the last resort: Dead Man’s Switch encrypted www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  26. Bottom line It IS possible to create REAL NO TRUST Bitcoin services Multi-Signature wallets, no one can ever access the bitcoins without your consent Thanks to MePIN two factor authentication not even if your PC is compromised With timed backup-transaction coins are even safe when service is closed down or server data is deleted www.bitalo.com Phone: +49 6322 9419292 | e-mail: martin@bitalo.com

  27. THANK YOU FOR watching

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