202 sats \ 2 replies \ @pillar 13 Jul 2023 \ on: Validating Lightning Signer - AMA bitcoin
Will VLS allow "shared-ownership" of a Lightning node? As in:
  • Alice, Bob and Charlie share TheNode.
  • TheNode can only open a channel, close a channel or send onchain funds from the node wallet if Alice, Bob and Charlie sign with each individual's key.
  • There is no way for these actions to take place unless all three agree by signing.
write
preview
93 sats \ 1 reply \ @jackronaldi 13 Jul 2023
This seems like a 3-of-3 multi-sig setup where each person holds 1 key.
While LN multi-sig is not yet ready, we are following work being done by Lightning core devs on multi-sig protocols which should allow for this to happen.
As a side note, 3-of-3 setups are dangerous if you don't properly backup your keys, as one lost key means you lose your funds.
reply
0 sats \ 0 replies \ @devrandom OP 14 Jul 2023
To follow up, a 2-of-3 or 3-of-5 multisig setup is safer. These kind of setups are common for L1 multisig wallets.
reply