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dugancm comments on Homomorphic encryption and Bitcoin - Less Wrong Discussion

5 Post author: jimrandomh 19 May 2011 01:07AM

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Comment author: dugancm 21 May 2011 10:06:36AM 1 point [-]

If you have three arbiters and require at least two of them to be party to any transactions and the creation of new arbiters, one can be a trusted or paid third party without risking theft, account freeze or unauthorized arbiter creation and you can safely recover from losing a single device.

I am ignorant of the details necessary to implement this and how difficult it might be.