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Could someone sign a transaction, encrypt it with a (2,3) Shamir's Secret Sharing scheme with one key to signer, one to trustee and one to beneficiary?

Then after death sometime years from now could the trustee and beneficiary transmit the previously signed transaction per the instructions of the deceased signor?

If some future transaction fee increase would prevent the above scheme from working could the signor voluntarily pay an exorbitant transaction fee in the original signed transaction in order to future proof against future network fee increases?

user1224
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1 Answers1

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It is possible but would likely fail, I wouldn't do this. Not only can transaction fees change as you mentioned, but so can the transaction protocol. If a new transaction field is made mandatory, then your transaction would be rejected by the network. The longer you wait the greater the chance it will fail.

My only suggestion is to use the (2,3) Shamir's Secret Sharing scheme on the signer's private key, so a transaction can be signed when two people agree on decrypting the private key. This isn't the same or as secure as multi-sig, but for your use case it seems reasonable.

Miles P
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