The second installment of Blockchain Hustlers, which explains how business owners use the BSV blockchain to power cutting-edge new goods and services, has just been released. Mohammad Jaber from Elas presents the first multiparty Bitcoin wallet in this episode.
Jaber starts by explaining that Elias created Signavera after realizing the demand for a multi-signature wallet utilizing the Paymail protocol.
As soon as it was realized that many different components of online collaboration required several people to participate and digitally sign papers, it quickly became much broader. He uses attestation as an illustration. It grew far more than a multi-signature wallet as a result.
Watch the sleekest Bitcoin multi-sig experience unfold:
— Bitcoin SV (@BitcoinSVNode) November 10, 2022
Users will enjoy a seamless user experience thanks to handy Paymail handles. Users can also set conditions that each will have to fulfill to sign.
For example, three friends could share a wallet with a Paymail handle. For any activity to occur on this wallet, it would require two out of three to be able to send the transaction.
Jaber explains that these features are already in place for money management. It will soon be in place for all other features that require multi-party attestation.
A Signavera product walkthrough
Jaber explains that when you create a Signavera account, you’ll automatically be given an individual Paymail account which is the standard in all wallets.
He then shows us how to build additional accounts with additional members.
- First, he creates an additional account name.
- Next, he adds users to the account.
- He then funds the account from his HandCash wallet.
- He enters a recipient username and amounts to send.
- He waits for two other parties to sign.
- He then signs himself to verify the transaction.
- The transaction then arrives in the HandCash wallet.
How Paymail and Bitcoin SV make this possible
“Paymail makes all of the activity between wallets interoperable and seamless,” Jaber says. This helps attract users who aren’t necessarily tech-savvy.
The bare cost of doing the transaction would be quite expensive on other blockchains due to the additional weight in the script, but Bitcoin SV makes it cost-effective.
Key takeaways from this episode of Blockchain Hustlers
- Elias is building Signavera, a multi-signature wallet using the pay mail protocol.
- Signavera will allow multiple users to set up wallets where the majority will have to sign before funds can be moved.
- This makes the most sense on Bitcoin SV thanks to its low transaction fees and high throughput.
Watch: The BSV Global Blockchain Convention presentation, Elias: Creating private, permissioned ledgers on the public blockchain
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