Multi-Signature Account

Suppose that there are 3 people in the community team and they hold common funds for marketing purposes. It is convenient for the team to make a decision about the allocation of common funds according to the majority decision, and they create a multi-signature account to perform this. The implemented multi-sig account is created by SetScriptTransaction:


let userPubKey = base58’B1Yz7fH1bJ2gVDjyJnuyKNTdMFARkKEpV’

let translatorPubKey = base58’7hghYeWtiekfebgAcuCg9ai2NXbRreNzc’

let moderatorPubKey = base58’BVqYXrapgJP9atQccdBPAgJPwHDKkh6A8’ let userSigned = if(sigVerify(tx.bodyBytes, tx.proofs[0], alicePubKey)) then 1 else 0

translatorSigned = if(sigVerify(tx.bodyBytes, tx.proofs[1], bobPubKey)) then 1 else 0

let moderatorSigned = if(sigVerify(tx.bodyBytes, tx.proofs[2], cooperPubKey)) then 1 else 0

userSigned + translatorSigned + moderatorSigned >= 3

Here users gather 3 public keys in proof[0], proof[1] and proof[2]. The account is funded by the team members and after that, when at least 2 of 3 team members decide to spend money, they provide their signatures in a single transaction. The smart account script validates these signatures with proofs and if 2 of 3 are valid then the transaction is valid too, or else the transaction does not pass to the blockchain. Note that after the SetScriptTransaction operation all non-multi-signature transactions are discarded.

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