A breakdown of the external and internal threats posed to a company’s bitcoin holdings

By Neil Woodfine, Robbert Gorris, and Guillaume Verbal

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This is the first in a series of articles produced from content published in the Cerberus Appendix, covering general principles around secure bitcoin storage.

We have more articles in this series coming up soon, so make sure you give us a follow, or add our Twitter over at @clavestone_.


Some basic principles in bitcoin storage that inform the approach to building the Cerberus Protocol

By Neil Woodfine, Robbert Gorris, and Guillaume Verbal

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This is the first in a series of articles produced from content in the recently-published Cerberus Appendix, covering general principles around secure bitcoin storage.

We have more articles in this series coming up soon, so make sure you give us a follow, or add our Twitter over at @clavestone_.

There is No Perfect Security

There is no bitcoin storage solution that can offer perfect, unbreakable security. For a determined-enough attacker under the right circumstances, any storage has vulnerabilities that can be breached.

Some solutions are more vulnerable than others, but all approaches to bitcoin storage involve a…


The motherlode of background information on the Cerberus bitcoin storage protocol

By Neil Woodfine

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After a long hiatus, we’ve finally completed a first draft of the Cerberus Protocol’s Appendix.

Backloading the Background

The Cerberus Protocol is painstakingly designed to be as lightweight as possible. For example, we only provide optional choices when absolutely necessary (don’t make them think!) and include as little explainer text as is required for the secure execution of the protocol.

However, this may hide a great deal of work and energy that has gone into designing Cerberus. The lack of explainer also makes it difficult for reviewers to understand the reasoning behind the decisions we have made.

The Appendix is…


Everything you need to get ready for the secure setup ceremony

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After completing this section, your three signatories will have prepared the items shown above.

The Cerberus Protocol is a step-by-step guide for businesses setting up their own bitcoin multisig storage. Today we’re releasing the second chapter of the protocol with the intention of getting feedback from interested bitcoiners and businesses.

Following the explanatory Overview released last month, today’s Preparation section finally provides some practical instructions for establishing your team and preparing all the necessary equipment to get started.

We’d Love Some Feedback

We’d love to hear your thoughts, so let us know areas you think could be improved, things we might have missed, typos, or even some toxic trolling!

Cerberus is intended to be an ongoing project where…


The first chapter of our guide to corporate bitcoin self-storage

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In the world of personal bitcoin storage, retail investors learned long ago that self-custody is essential. Exchanges and other custodians are centralised single points of failure and become highly attractive targets for attackers. They get hacked, they run off with their customers’ funds, they make mistakes, their executives get kidnapped and ransomed, or worse.


The pros and cons for organisations using either of two bitcoin key distribution methods

By Phil Geiger and Neil Woodfine

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Never leave critical tasks to one person.

Individuals typically store their bitcoin under singular private keys. Put as simply as possible, this means that only one bitcoin key is required to move the owner’s bitcoins. But for organisations storing significant amounts of bitcoin, this approach is not secure.

Instead, control over the organisation’s bitcoin should be distributed over multiple people to ensure that there are checks and balances when spending, and also that no one becomes a target for theft (or worse).

To distribute control to multiple parties, there are three commonly used methods:

  1. Bitcoin multisignature transactions (multisig)
  2. Shamir’s Secret Sharing…


How insurance works in bitcoin today & challenges it faces in the future

By Phil Geiger & Neil Woodfine

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In our discussions with companies looking to store bitcoin, insurance comes up a lot. “That sounds secure, but will you offer insurance?” is a common question we hear. So recently we did some research and consulted with people working in the insurance industry to understand better why bitcoin insurance was so rare. We’re admittedly far from insurance experts, but we think we uncovered enough interesting information to share with people who, like us, are new to the topic.

In this article, we will be taking a look at:

  • What properties make bitcoin so hard…

Clavestone

Bitcoin multisig solutions for organisations. Home of the Cerberus Protocol. Don’t put all your keys in one basket.

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