June 22nd, 2020

Featured in this news update:

– Blog post and AMA for the LIP referred to Multisignature Accounts
– New channels in Discord
– Delegates’ overview


Blog post and AMA for the LIP referred to Multisignature Accounts
Maxime Gagnebin, Research Scientist at LiskHQ, published a blog post about Multisignatures accounts and hosted an AMA (Ask me Anything) in Discord chat.
In the article Maxime describes the main improvements related to the LIP 0017, the new features and possible use cases, as this proposal improves account management and provides customization for joint and community accounts.
This LIP is part of the changes linked with the new consensus and specifically with the LIP 0023: delegates might need to join their forces to have enough stake for self-votes, so thanks to this proposal they will be able to manage a forging node without the risk of losing funds.

In crypto ecosystem, multisignature accounts are usually characterized by N public keys that have the right to sign transactions and M (a number smaller than N) keys that are required to make a tx valid.
In Lisk this approach is available for second signature registration (2-out-of-2 accounts) and multisignature accounts, but in both cases the original public key is mandatory to sign a transaction. As reported in the article, “the main goal of LIP 0017 is to remove those restrictions and make multisignature registration more flexible“: this improvement will allow the creation of accounts according to the two options described above, but also a combination of the them (that corresponds to new multisignature accounts with two mandatory public keys and other keys as optional).
All accounts that are currently registered with a second signature or as a multisignature account, will be automatically converted to new multisignature accounts without any changes to their access rules.
In addition, this LIP prevents also that the network is spammed by unsigned transactions: in the future all transactions will have to be fully signed to be accepted by nodes.

During the AMA, Maxime specified that the maximum number of signatures is 64 keys, arbitrarily divided between optional and mandatory ones, and that the original public key does not have to be included.
As the next step, he will work on interoperability.


New channels in Discord
Jurre, member of Moosty, announced that LCU has now its own channel in Lisk official server and that LiskHQ created two new categories:

  • “projects”, which contains Lisk community initiatives and the DAO project developed by Peter Nobels;
  •  a voice channel used for Lisk weekly community meetups.


Delegates’ overview
According to LiskMonitor, in the past week there was a huge outflow of votes from delegates: Elite lost 26 million LSK and GDT lost 19M votes.
This is probably related to the 700k LSK transaction made by a whale, that moved the funds to Binance Hot Wallet. The effect is that forging delegates lost about 400k-600k votes, with only 3 delegates that got a positive score (vipertkd, joel, 4miners.net).
It is still possible to receive 1 free LSK by minions (if you vote the “Heroes” list, no action required).

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