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Multisig Wallet

Introduction

Multisignature wallets are cryptocurrency wallets that require one or more private keys to sign and send a transaction.

Imagine a bank vault that requires more than one key to open: That’s a little how multisignature cryptocurrency wallets work.

Multisignature proponents argue that multisignature is the most secure and fail-proof way to store cryptocurrency. Even if a thief gets his hands on one of your wallets, for example, they still won’t be able to access your account without the keys to the other wallets in the setup.

This article explains the programming interface, data structure, basic functions and explains their purpose. It can be used as is or modified to suit your own scenarios. Anyone can easily create their own application and run it on the Gear Network. The source code is available on GitHub.

Logic

Wallet is owned by one or more owners, and in order for something significant to take place required count of owners should confirm this action.

Deployer of a contract can choose how many owners are allowed to send transaction from the wallet as well as the minimum number of owners needed to send it (e.g., you could have a 2-of-3 multisig where two out of three assigned private keys are needed, 3-of-5, 5-of-7, etc.).

To send a transaction through multisig wallet one of the owners should send transaction to the wallet with a SubmitTransaction action in the payload, and other owners should approve this transaction by ConfirmTransaction action until the required amount is reached.

In the description of the transaction owner can add some useful information about it.

The wallet is flexible and users can manage the list of owners and the number of confirmations required.

Of course, we took care of the security of the contract, so adding an owner, removing an owner, replacing an owner and changing required confirmations count can only be done with required confirmations from other owners.

The transaction approval logic is complex, for example:

  1. If the owner submits the transaction and the contract only needs one confirmation to execute the transaction, the contract will firstly add the transaction to the storage, then confirm it by the submitting owner, then execute transaction automatically.
  2. If the owner submits the transaction and the contract needs two or more confirmations to execute the transaction, the contract will firstly add the transaction to the storage, then confirm it by the submitting owner. And to execute this transaction wallet will steel need one or more confirmations. Then another owner send ConfirmTransaction action to the contract and if everything is fine, the transaction will be executed automatically

In most cases a transaction will execute automatically after all confirmations is done. But there is a corner case, if the transaction was confirmed n times, and the contract requires n + 1 or more confirmations, and then the owners change the required confirmations count to n or less, owners can either wait for the next confirmation, or simply call ExecuteTransaction with corresponding transaction ID to execute it

Interface

Init Config

pub struct MWInitConfig {
pub owners: Vec<ActorId>,
pub required: u64,
}

Describes initial state of the wallet.

  • owners - a list of owners of a new wallet
  • required - a required confirmations count to approve and execute transaction

Actions

pub enum MWAction {
AddOwner(ActorId),
RemoveOwner(ActorId),
ReplaceOwner {
old_owner: ActorId,
new_owner: ActorId,
},
ChangeRequiredConfirmationsCount(u64),
SubmitTransaction {
destination: ActorId,
data: Vec<u8>,
value: u128,
description: Option<String>
},
ConfirmTransaction(U256),
RevokeConfirmation(U256),
ExecuteTransaction(U256),
}
  • AddOwner is an action to add a new owner. Action has to be used through SubmitTransaction.
  • RemoveOwner is an action to remove an owner. Action has to be used through SubmitTransaction.
  • ReplaceOwner is an action to replace an owner with a new owner. Action has to be used through SubmitTransaction.
  • ChangeRequiredConfirmationsCount is an action to change the number of required confirmations. Action has to be used through SubmitTransaction.
  • SubmitTransaction is an action that allows an owner to submit and automatically confirm a transaction.
  • ConfirmTransaction is an action that allows an owner to confirm a transaction. If this is the last confirmation, the transaction is automatically executed.
  • RevokeConfirmation is an action that allows an owner to revoke a confirmation for a transaction.
  • ExecuteTransaction is an action that allows anyone to execute a confirmed transaction.

Events

pub enum MWEvent {
Confirmation {
sender: ActorId,
transaction_id: U256,
},
Revocation {
sender: ActorId,
transaction_id: U256,
},
Submission {
transaction_id: U256,
},
Execution {
transaction_id: U256,
},
OwnerAddition {
owner: ActorId,
},
OwnerRemoval {
owner: ActorId,
},
OwnerReplace {
old_owner: ActorId,
new_owner: ActorId,
},
RequirementChange(U256),
}
  • Confirmation is an event that occurs when someone use ConfirmTransaction action successfully
  • Revocation is an event that occurs when someone use RevokeConfirmation action successfully
  • Submission is an event that occurs when someone use SubmitTransaction action successfully
  • Execution is an event that occurs when someone use ExecuteTransaction action successfully
  • OwnerAddition is an event that occurs when the wallet use AddOwner action successfully
  • OwnerRemoval is an event that occurs when the wallet use RemoveOwner action successfully
  • OwnerReplace is an event that occurs when the wallet use ReplaceOwner action successfully
  • RequirementChange is an event that occurs when the wallet use ChangeRequiredConfirmationsCount action successfully

State

Requests:

pub enum State {
ConfirmationsCount(U256),
TransactionsCount {
pending: bool,
executed: bool,
},
Owners,
Confirmations(U256),
TransactionIds {
from_index: u64,
to_index: u64,
pending: bool,
executed: bool,
},
IsConfirmed(U256),
Description(U256)
}
  • ConfirmationsCount returns number of confirmations of a transaction whose ID is a parameter.
  • TransactionsCount returns total number of transactions after filers are applied. pending includes transactions that have not been executed yet, executed includes transactions that have been completed
  • Owners returns list of owners.
  • Confirmations returns array with owner addresses, which confirmed transaction whose ID is a parameter.
  • TransactionIds returns list of transaction IDs in defined range.
    • from index start position of transaction array.
    • to index end position of transaction array(not included).
    • pending include pending transactions.
    • executed include executed transactions.
  • IsConfirmed returns the confirmation status of the transaction whose ID is a parameter.
  • Description Returns the description of the transaction whose ID is a parameter.

Each state request has a corresponding reply with the same name.

Replies:

pub enum StateReply {
ConfirmationCount(u64),
TransactionsCount(u64),
Owners(Vec<ActorId>),
Confirmations(Vec<ActorId>),
TransactionIds(Vec<U256>),
IsConfirmed(bool),
Description(Option<String>)
}

Source code

The source code of this example of Multisig Wallet smart contract and the example of an implementation of its testing is available on GitHub.

See also an example of the smart contract testing implementation based on gtest: multisig-wallet/tests.

For more details about testing smart contracts written on Gear, refer to the Program Testing article.