MultiSigWallet Enhances Security for Transactions on BitTorrent Chain (BTTC)
The
introduction
of
the
MultiSigWallet
smart
contract
on
the
BitTorrent
Chain
(BTTC)
is
set
to
revolutionize
how
secure
transactions
are
conducted
on
the
blockchain,
according
to
BitTorrent
Inc..
This
innovative
smart
contract
enhances
security
by
requiring
multiple
approvals
before
executing
transactions.
The
MultiSigWallet
Contract:
A
Collaborative
Digital
Vault
The
MultiSigWallet
contract
functions
like
a
digital
vault
that
requires
multiple
keys
to
open,
ensuring
no
single
individual
can
access
the
funds
alone.
This
feature
is
particularly
advantageous
for
managing
shared
funds
with
enhanced
security
and
consensus.
State
Variables
and
Structs:
The
Building
Blocks
The
core
components
of
the
MultiSigWallet
contract
include:
-
owners:
An
array
of
addresses
with
ownership
rights. -
numConfirm:
The
number
of
confirmations
needed
to
execute
a
transaction. -
Transaction:
A
struct
defining
the
structure
of
each
transaction. -
isConfirmed:
A
nested
mapping
to
track
confirmations
for
each
transaction. -
isOwner:
A
mapping
to
quickly
verify
if
an
address
is
an
owner. -
transactions:
An
array
storing
all
submitted
transactions.
Events:
Ensuring
Transparency
Events
are
crucial
for
off-chain
tracking
and
transparency:
-
TransactionSubmitted:
Fired
when
a
new
transaction
is
proposed. -
TransactionConfirmed:
Emitted
when
an
owner
confirms
a
transaction. -
TransactionExecuted:
Logs
when
a
transaction
is
successfully
executed.
Constructor:
Initializing
the
Wallet
The
constructor
of
the
MultiSigWallet
contract
initializes
the
wallet
with
specified
owners
and
a
confirmation
threshold:
constructor(address[] memory _owners, uint _numConfirmationRequired) {
require(_owners.length > 1, "owners required must be greater than 1");
require(
_numConfirmationRequired > 0 &&
_numConfirmationRequired <= _owners.length,
"Num of confirmation is not sync with num of owner"
);
numConfirm = _numConfirmationRequired;
for
(uint
i
=
0;
i
<
_owners.length;
i++)
{
require(_owners[i]
!=
address(0), “Invalid
Owner”);
owners.push(_owners[i]);
isOwner[_owners[i]]
=
true;
}
}
This
ensures
the
wallet
has
at
least
two
owners,
a
valid
number
of
required
confirmations,
and
all
provided
owner
addresses
are
valid.
Key
Functions:
The
Heart
of
Multi-Signature
Operations
Submitting
a
Transaction
Anyone
can
propose
a
new
transaction
using
the
following
function:
function submitTransaction(address _to) public payable {
require(_to != address(0), "Invalid address");
require(msg.value > 0, "Transfer amount must be greater than 0 ");
uint transactionId = transactions.length;
transactions.push(
Transaction({to:
_to,
value:
msg.value,
executed:
false})
);
emit
TransactionSubmitted(transactionId,
msg.sender,
_to,
msg.value);
}
Confirming
a
Transaction
Only
owners
can
confirm
transactions:
function confirmTransaction(uint _transactionId) public onlyOwner {
require(_transactionId < transactions.length, "Invalid transaction");
require(
!isConfirmed[_transactionId][msg.sender],
"Transaction is already confirmed by owner"
);
isConfirmed[_transactionId][msg.sender] = true;
emit TransactionConfirmed(_transactionId);
if
(isTransactionConfirmed(_transactionId))
{
executeTransaction(_transactionId);
}
}
Checking
Transaction
Confirmation
Status
This
view
function
checks
if
a
transaction
has
received
the
required
number
of
confirmations:
function isTransactionConfirmed(
uint _transactionId
) public view returns (bool) {
require(_transactionId < transactions.length, "Invalid transaction");
uint confirmation;
for (uint i = 0; i < numConfirm; i++) {
if (isConfirmed[_transactionId][owners[i]]) {
confirmation++;
}
}
return confirmation >= numConfirm;
}
Executing
a
Transaction
Once
the
required
number
of
confirmations
is
reached,
the
transaction
can
be
executed:
function executeTransaction(uint _transactionId) public payable {
require(_transactionId < transactions.length, "Invalid transaction");
require(
!transactions[_transactionId].executed,
"Transaction is already executed"
);
(bool
success,
)
=
transactions[_transactionId].to.call{
value:
transactions[_transactionId].value
}(“”);
require(success, “Transaction
Execution
Failed “);
transactions[_transactionId].executed
=
true;
emit
TransactionExecuted(_transactionId);
}
Beyond
the
Basics:
The
Power
of
Multi-Signature
Wallets
The
MultiSigWallet
contract
offers
numerous
benefits:
-
Enhanced
Security:
Multiple
approvals
reduce
unauthorized
transactions. -
Shared
Control:
Ideal
for
business
accounts
or
shared
funds. -
Transparency:
Blockchain
records
ensure
accountability. -
Flexibility:
Customizable
number
of
owners
and
confirmations.
Conclusion:
Securing
the
Future
of
Digital
Assets
The
MultiSigWallet
smart
contract
represents
a
significant
advancement
in
digital
asset
security
and
management.
By
requiring
multiple
signatures
for
transactions,
it
creates
a
robust,
trustworthy
system
for
handling
funds
on
the
blockchain.
This
innovation
is
poised
to
set
a
new
standard
for
secure
digital
finance.
Image
source:
Shutterstock
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