RE: [piston] How to use it for multisignature accounts
So Amazing ! I was just explaining a friend how strong was NEM with their EigenTrust++ reputation and Multig account transaction
I feel glad you did this Xeroc.. It will open new possibilities.
Here the NEM system (in case it can help people understand clearly how a multisig transaction could work)
To send XEM from a multisig account to another account, a transfer transaction must be wrapped. The multisig wrapper transaction has a fee of 6 XEM. This fee is added to the usual transfer transaction fee.
The following example shows the steps that must be taken in more detail: Assume that a multisig account (M) has a balance of 1000 XEM and has three cosignatories (A, B, C) and 100 NEM needs to be transferred from M to another account X.
Any of the three cosignatories can initiate the 100 XEM transfer. Assuming that B initiates the transfer and A and C cosign, the following steps must happen for the transaction to be accepted:
- B creates a regular, unsigned transfer transaction that has the multisig account as the “signer” and the transfer amount as 100 XEM
- B wraps the unsigned transfer transaction in a multisig transaction
- B signs the multisig transaction and sends it to the NEM network
- A and C are notified of the pending multisig transaction
- A creates a multisig signature transaction by signing the hash of the unsigned transfer transaction and sends it to the network
- C creates a multisig signature transaction by signing the hash of the unsigned transfer transaction and sends it to the network
- Once all cosignatories (B implicitly and A and C explicitly) have signed the unsigned transfer transaction, the transaction is accepted by the network and 100 XEM is transferred from M to X
If A and/or C do not send a multisig signature transaction corresponding to the multisig transfer transaction before the transaction deadline, the multisig transfer transaction will be rejected by the network and no XEM will be transferred from M to X.
Enjoy. And thanks @xeroc !!!