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91 sats \ 4 replies \ @hugomofn 18h \ on: Why I am using Multisig over Singlesig bitcoin
Multisig is great, and UX is quickly improving!
Checkout Taproot-based multisig wallets, which we just launched a few hours ago on Nunchuk (currently a beta feature): https://nunchuk.io/blog/taproot-multisig
It leverages Schnorr signatures and MuSig2 protocol to enhance privacy (i.e. Taproot multisig transactions look indistinguishable from singlesig transactions on-chain) and lower transaction fees.
X thread: https://x.com/nunchuk_io/status/1871632189752008780
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0 sats \ 2 replies \ @79c9095526 OP 8h
Thanks for sharing this. For someone who has an older multisig setup (not Taproot based), do you think it is worth migrating to a newer Taproot based wallet?
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0 sats \ 0 replies \ @hugomofn 7h
You're welcome!
It's still very early days (this is a beta release), plus the rest of the ecosystem hasn't added support for Taproot yet. In terms of hardware signing devices, only Ledger and Coinkite currently have experimental firmware for Taproot. So I'd say give it some time to mature. If you want to try it out, put a very small amount of fund in it.
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0 sats \ 0 replies \ @OT 7h
I'd wait a while to see how it plays out. Only very few wallets support taproot multisig so its pretty early.
I like the privacy improvements, but I also need to research more on all the other tradeoffs.
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0 sats \ 0 replies \ @nitter 18h bot
https://xcancel.com/nunchuk_io/status/1871632189752008780
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