Nunchuk Launches Taproot Multisig Wallets (Beta) on Mobile

• "In our ongoing commitment to improving Bitcoin self-custody, we're thrilled to announce the Taproot Multisig Wallet, a new type of multisig wallet that leverages Taproot, Schnorr signatures, and the MuSig2 protocol to offer greater privacy and lower on-chain fees," announced the project.

• Taproot Multisig employs Taproot (BIP 341) to make multisignature transactions appear as single-signature transactions on the Bitcoin blockchain. This approach enhances user privacy and lowers fees by utilizing Schnorr Signatures and the MuSig2 Protocol.

• The combination of MuSig2 and Taproot enables users to:
  • Achieve M-of-N functionality while leveraging MuSig2's signature aggregation;
  • Optimize for your most common signing scenario via the key path;
  • Maintain flexibility with alternative signing combinations via the script path.

NOTE: Taproot wallet is a beta feature. Consider it experimental and avoid storing significant amounts of funds for now.

• In contrast to traditional multisig transactions, which require one round of independent signing from participants, Taproot Multisig with MuSig2 necessitates two rounds of coordinated signing. This additional round comes with the trade-off of improved privacy and reduced fees through signature aggregation.

• The Taproot feature "key path spending" enables a specific subset of keys, referred to as the Value Keyset, to sign transactions for maximum privacy and fee savings. While other key subsets (or "script path spending") also benefit from Taproot's privacy and fee enhancements, the Value Keyset provides the greatest advantages.

"Like all our wallet implementations, our Taproot Multisig continues Nunchuk's foundational approach of reusing Bitcoin Core's code and cryptographic libraries (e.g. libsecp256k1). This includes the critical components for Taproot and MuSig2, ensuring we maintain our commitment to using the most battle-tested and reviewed code in the Bitcoin ecosystem," added the project.

• In this initial release, only software (hot) keys are supported, allowing any combination M-of-N multisig with up to 5 keys.

"We plan to add hardware signing support in the future. While some hardware wallet vendors like Ledger and Coinkite are working on Taproot support, their implementations are still in experimental stages. Broader hardware wallet support is still evolving," said the developers.

• "Taproot Multisig Wallet represents the next leap forward in Bitcoin self-custody, combining privacy and fee efficiency through cutting-edge cryptographic innovations. We're excited to push Bitcoin multisig technology to new frontiers - so try it out with small amounts, explore the Value Keyset, and stay tuned for further updates on hardware compatibility," was stated in the blog post.

Nunchuk Blog / Archive
GitHub Repo (Android)
App Store Link (iOS)

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