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bip-hugonguyen-bsms.mediawiki

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@@ -187,13 +187,11 @@ Also refer to [https://github.com/BlockchainCommons/Research/blob/master/papers/
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==Compatibility==
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This specification is not backwards compatible with existing multisig implementations.
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BSMS is opt-in, meaning existing multisig implementations can continue working as-is, with the caveat that they are full of pitfalls. Some of the problems have been described in the [[#Motivation]] section.
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BSMS is opt-in, meaning existing multisig implementations can continue working as-is, with the caveat that they are likely to have various pitfalls. Some of the problems with existing solutions have been described in the [[#Motivation]] section.
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To comply with this standard, a Signer must be able to persist the descriptor record in its storage.
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Once a Signer has implemented BSMS, the user can create new multisig wallets using BSMS or migrate existing ones to BSMS.
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Existing multisig wallets should delay upgrading to BSMS until all participating Signers have implemented BSMS.
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To use BSMS for a multisig wallet, the user should wait until all participating Signers in the multisig have implemented BSMS.
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==Security==
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