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Diffstat (limited to 'doc/descriptors.md')
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diff --git a/doc/descriptors.md b/doc/descriptors.md index 75b9582343..f38caa81cb 100644 --- a/doc/descriptors.md +++ b/doc/descriptors.md @@ -145,22 +145,24 @@ For a good example of a basic M-of-N multisig between multiple participants usin wallets and PSBTs, as well as a signing flow, see [this functional test](/test/functional/wallet_multisig_descriptor_psbt.py). The basic steps are: - 1. Every participant generates an xpub. The most straightforward way is to create a new descriptor wallet. - Avoid reusing this wallet for any other purpose. Hint: extract the wallet's xpubs using `listdescriptors` - and pick the one from the `pkh` descriptor since it's least likely to be accidentally reused (legacy addresses) + 1. Every participant generates an xpub. The most straightforward way is to create a new descriptor wallet which we will refer to as + the participant's signer wallet. Avoid reusing this wallet for any purpose other than signing transactions from the + corresponding multisig we are about to create. Hint: extract the wallet's xpubs using `listdescriptors` and pick the one from the + `pkh` descriptor since it's least likely to be accidentally reused (legacy addresses) 2. Create a watch-only descriptor wallet (blank, private keys disabled). Now the multisig is created by importing the two descriptors: `wsh(sortedmulti(<M>,XPUB1/0/*,XPUB2/0/*,…,XPUBN/0/*))` and `wsh(sortedmulti(<M>,XPUB1/1/*,XPUB2/1/*,…,XPUBN/1/*))` (one descriptor w/ `0` for receiving addresses and another w/ `1` for change). Every participant does this 3. A receiving address is generated for the multisig. As a check to ensure step 2 was done correctly, every participant should verify they get the same addresses 4. Funds are sent to the resulting address - 5. A sending transaction is created using `walletcreatefundedpsbt` (anyone can initiate this). It is simple to do this in - the GUI by going to the `Send` tab in the multisig wallet and creating an unsigned transaction (PSBT) - 6. At least `M` users check the PSBT with `decodepsbt` and (if OK) signs it with `walletprocesspsbt`. It is simple to do - this in the GUI by Loading the PSBT from file and signing it - 7. The signed PSBTs are collected with `combinepsbt`, finalized w/ `finalizepsbt`, and - then the resulting transaction is broadcasted to the network - 8. Checks that balances are correct after the transaction has been included in a block + 5. A sending transaction from the multisig is created using `walletcreatefundedpsbt` (anyone can initiate this). It is simple to do + this in the GUI by going to the `Send` tab in the multisig wallet and creating an unsigned transaction (PSBT) + 6. At least `M` participants check the PSBT with their multisig using `decodepsbt` to verify the transaction is OK before signing it. + 7. (If OK) the participant signs the PSBT with their signer wallet using `walletprocesspsbt`. It is simple to do this in the GUI by + loading the PSBT from file and signing it + 8. The signed PSBTs are collected with `combinepsbt`, finalized w/ `finalizepsbt`, and then the resulting transaction is broadcasted + to the network. Note that any wallet (eg one of the signers or multisig) is capable of doing this. + 9. Checks that balances are correct after the transaction has been included in a block You may prefer a daisy chained signing flow where each participant signs the PSBT one after another until the PSBT has been signed `M` times and is "complete." For the most part, the steps above remain the same, except (6, 7) |