FAQ
What is "megazord"?
Megazord account is a DeSo account (private key) shared between several owners. The idea is close to multisig account in the Bitcoin, but has another implementation adapted to the DeSo blockchain.
What is "zords"?
Zords are co-owners of a megazord account. Each Zord has its own part of the megazord account seed phrase. This guarantees consensus between co-owners during decision-making around account activities.
Why does everything have such strange names?
To sign transactions on behalf of a joint account, the zords need to be in touch at the same time to connect their seed phrase parts. It reminded me of how power rangers combine together to create a Megazord.
Why should I create a joint account with someone?
The possibilities for application are very wide. These are wallets, projects with joint control of the FR, charitable activities, giveaways, accounts for combining the reputation of different creators, even something like a DAO.
What is the zord seed phrase part?
Full access to the DeSo account is provided by the seed phrase (private key). If you don't own the seed phrase to account, you don't own the account! In order to jointly own an account, CloutMegazord provides an approach to split seed phrase between several owners.
How can I create a megazord account with someone?
In order to create a new multisig account, you should already have a Bitclout profile. Everything else is very simple:
Go to https://cloutmegazord.com/
Click "Power On" and log-in using bitclout account identify ( requires access level 2)
Click "+" button in the bottom right corner.
Invite zords (co-owners) using their bitclout username handlers.
Notify zord by any communication chanel, so that they confirm their participation.
Complete your first task: "Get Public Key", to obtain a native bitclout public key for your multisig account.
After completing these steps, you will have part of the seed phrases of the multisig account and can sign transactions jointly. Step-by-step guide with screenshots.
Currently, what actions can a megazord do? What is coming next?
At the moment, using a megazord account, you can perform the following actions:
Create DeSo Public Key
Sending CLOUT's
Sending Creator Coins
Update Profile (set/change Username, Avatar, Description, FR)
Re-Clout
Actions that we are planning to add next:
Buying / Selling Creator Coins
Creating posts
Mint NFT
Buying / Selling NFT's
What will a megazord account look like?
After executing the first task, "Get Public Key", there will be a common DeSo public key like this: BC1YLhNKWowYc89DTfpUmeujn7bzDfmrboQYxkwg3FRngwkRVzTBHrU
It's the same as for anonymous accounts on Bitclout. You can track account transactions using tools like: bitcloutpulse.com
After completing the "Update Profile" task, there will be a regular BitClout account. Example of multisig Bitclout profile.
Why not use the common Bitcoin multisig implementation?
I asked BitClout devteam about this and I received an answer from @maebeam that at in the current stage of DeSo blockchain development, this is not possible.
How can zords use their respective parts of the seedphrase to access their shared account if the CloutMegazord is offline/discontinued?
Since the CloutMegazord only shares the megazord seed phrase between zords and does not store it, zords will have access to the account and assets on it even if the CloutMegazord is offline/discontinued. In this case, all that is required for account owners is to manually concatinate parts of the seed phrase and convert them to a megazord private key. Now, as an example of how to do this, you can use a script from the signing-cloutmegazord repository. In the near future, we plan to add a user-friendly interface based on GitHub Pages which converts parts of the seed phrases into a single megazord seed phrase.
What are the fees charged by CloutMegazord for individual transactions?
The service charges a 1.5% fee of transaction amount for each individual asset-related transaction which is performed by megazord account.For CLOUTs operations, like transferring CLOUTs, a fee is charged in the CLOUTs. For the Creator Coins operation, like transferring Creator Coins, a fee is charged in Creator Coins. To pay the fee, an additional DeSo transaction is created and signed by the megazord private key. The fee percentage may be lower for partnership program members (write to CloutMegazord inbox to request partnership details).
Is it possible to sign transactions according to the 2-of-3 or 3-of-5 scheme as in the Bitcoin multisig?
In the near future - yes. This will be possible after we implement the Shamir's Secret Sharing algorithm for joint account creation. This is planned in our 3rd roadmap.
Can other zords of megazord, where I am also is zord, sign the transaction without my consent?
This will depend on your shared account settings. After the implementation of the Shamir's Secret Sharing, you will be able to choose a signature scheme. If, for example, there were 2-of-3, then yes, 2 other zords would be able to sign transactions without your authorization. But you can create an account with type 3-of-3 or 2-of-2 if you want to sign all transactions. It all depends on the account purpose. Also, in the future it is planned to add functionality to define a "privileged" zords. For example, for a 2-of-4 scheme with 1 "privileged" zord, this zord must sign all transactions but the second signing can be done by any other zord from a parties.
Where are transactions signed?
Transactions are signed on the CloutMegazord web server. It is necessary to avoid zords access to the whole seed phrase.
Does the CloutMegazord server have access to the full megazord account seed phrase?
In order to sign a transaction, we need access to the full megazord seed phrase. On the server, we collect parts of the zord seed phrases. The megazord seed phrase is located only in operative memory at the time of signing the transaction, it is not stored in the database, it is not written to the server logs or files. Server administrators do not have access to the seed phrases. Moreover, since the Firbase Functions service is used in production, there is not even a way to identify and get access to the physical instance where a transaction is signed.
How can you prove that the CloutMegazord server does not store a megazord seed phrase?
We tried to do our best to prove this. The component that the sign transaction is in the open source. The deployment procedure is based on github actions. And our main innovation is read-only access to the GCP Cloud Function code for CloutMegazord users. That allows you to directly make sure that the cloutmegazord backend does not store the seed phrase. In order to get such access, send a request to CloutMegazord.
How safe is the approach that CloutMegazord offers?
We discussed this approach with many members of the DeSo community. We have been audited by the @devaudit project. HPaulson found our approach interesting after we had a call. Also, I talked more about security aspects in the video interview. But do not forget that this is a software product, and even if you want to make it safe, there is no guarantee that it is 100% so. As in any case for cryptocurrencies, do not operate more funds than you can lose.
Is it possible to take an existing BitClout account and turn it into a megazord account?
No, since you already have full access to the account's seed phrase. In DeSo, as in Bitcoin, access to the private key equals access to the account. The seed phrase is equivalent to the private key. If you already had access to it, then other potential co-owners will be in a very vulnerable position, since it is highly likely that you have stored or remembered the seed phrase. It is possible to use the SwapIdentity functionality, but only administrators have access to it, so I would prefer to avoid that.
How many people can share one megazord account right now?
In basic implementation, up to 4 zords. But after the implementation of Shamir's Secret Sharing from Roadmap 3, it will be possible to create accounts for up to 10 zords. Also, this update adds the capability to change the set of megazord account owners if there is zords consensus on this decision.
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