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Friday, 13 November 2020

Multisig Coordination Software Nunchuk Releases Its Code

Recently-launched Bitcoin wallet Nunchuk announced today that it is making its application library, libnunchuk, open source and available to the public.

Nunchuk describes its mission as “the proliferation of multisig” and attempts to make multisig wallet security easier to achieve by offering a product that integrates some of the latest developments around partially-signed bitcoin transactions (PSBTs) and descriptor language.

“In the early days of Bitcoin, wallet vendors were often incompatible with one another, which complicated multisig setups,” according to an article from Nunchuk’s Hugo Nguyen. “Nunchuk treats descriptors and PSBTs as first-class citizens. The consequence is that you can use Nunchuk with many different hardware vendors, or easily recover a multisig wallet created by Nunchuk on other wallet software such as core.”

In an announcement about the code release shared with Bitcoin Magazine, Nunchuk explained that much of its library is built on Bitcoin Core, leveraging all of the robust advantages that this brings.

“Nunchuk’s architecture differs from other wallets’ for a number of reasons. But a major one is our decision to heavily reuse Bitcoin Core code,” according to the release. “The Nunchuk library creates a higher abstraction on top of Bitcoin Core’s inner building blocks, while reusing much of its logic such as: transaction and signature verification, PSBT, output descriptor and Branch-and-Bound coin selection algorithm.”

Additionally, the announcement indicated that the library offers hardware support, wallet management, encryption and minimal dependencies. 

“Nunchuk works out of the box with any server running Electrum protocol v1.4, including GetUmbrel, electra and ElectumX,” per the announcement. “TOR proxy can also be enabled for improved privacy.”

The post Multisig Coordination Software Nunchuk Releases Its Code appeared first on Bitcoin Magazine.

via Bitcoin Magazine

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