Is An XMR Version of Nunchuk Wallet Technically Possible? (mitra.anon-kenkai.com)

submitted 1 year ago by japananon@mitra.anon-kenkai.com to c/monero@monero.town

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Is An XMR Version of Nunchuk Wallet Technically Possible?

I've read about secret sharing as a means of doing multisig in Monero, and I know services like Haveno & RINO implement 2-of-3 wallets as a service (for exchange escrow and shared custody respectively). I'm interested in a different sort of implementation, one that doesn't rely on a third party host.

Nunchuk.io, for example, develops a BTC wallet that allows multiple users to collaboratively create multisig wallets & share custody of bitcoin. They can sign/approve transactions via an integrated messenger (which is third party hosted, but doesn't technically need to be afaik). This has multiple use cases, but it interests me primarily as a trustless escrow service between individuals.

As a non-programmer, I'm curious if anything about XMR secret sharing prevents the development of an equivalent application for Monero. Haveno and RINO have their own use cases, but I'd be more interested in something that can work between individual users without any third party company/service/platform.

@monero

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[-] japananon@mitra.anon-kenkai.com 1 points 1 year ago

@silverpill @monero The integrated chat is part of it, but not the whole.

Multisig is usually pitched as a security or shared custody feature, but a niche I think is underserved here is the use of multisig for trustless escrow between individuals. Haveno's implementation is integrated too deeply into their exchange platform to be useful independently, and RINO is an enterprise service focused on shared custody, so neither is exactly fit for that purpose.

I talked about Nunchuk in a video last year:

https://peertube.anon-kenkai.com/w/bSyQSapGr7QUaXwiJHUPLV

I went into it in more detail there, but in a nutshell what I like about it is how it incorporates all the necessary tools for trustless escrow in one package. You can generate wallets collaboratively via the integrated chat, discuss the terms, fund the wallet, and disburse funds without needing to fumble between multiple tools.

Since my main focus is providing tools for artists, I can see how such a thing would be very useful for things like commission work. But it can certainly be used for other things too, of course. It's an otherwise purpose-neutral tool so it's easy for anybody to just pick it up and use it for whatever purpose they want.

Nunchuk is BTC only, and it can still be useful, but an XMR version would suit my needs even better.

[-] silverpill@mitra.social 1 points 1 year ago

@japananon @monero I could build one, sounds like an interesting project.

There was an old system based on BitMessage, but it is unusable and unmaintainted: https://www.getmonero.org/resources/user-guides/multisig-messaging-system.html.

Someone is trying to build I2P-based version with an integrated marketplace: https://github.com/creating2morrow/neveko. It doesn't look very usable either, and developer is trying to do everything at once, which is usually a bad idea.

I would make it as a standalone tool that can work on clearnet and can connect to other software

[-] japananon@mitra.anon-kenkai.com 1 points 1 year ago

@silverpill @monero The existence of a tool like this would be extremely welcome. In my opinion, at least, but I'm sure a lot of other people would find it valuable once they discover it.

[-] silverpill@mitra.social 1 points 1 year ago

@japananon @monero I talked with some devs and learned about plans to add GUI for mutlisig to Feather wallet. But it is not clear when this will happen because Monero multisig still has experimental status (its security is not proven).

I could try to build an alternative wallet app, but there's a risk that Feather will add it first and my effort would be wasted.

Also, this just popped up in my feed: https://monero.im/post/3925