Written by artist on July 4, 2021

Verus Release - Multilevel Multisig syntax released

@everyone Announcing the immediate availability of NON-MANDATORY, RECOMMENDED ESPECIALLY FOR NOTARIES, HIGH PEER COUNT NODES, AND POOLS, v0.7.3-9 Verus CLI and Desktop.

In addition to more immediate and effective bad node banning behavior, v0.7.3-9 includes a fix for signrawtransaction that could sometimes result in failure of countersigning a multisig, ID-based raw transaction, and as a result of community volunteer testing contributions, this issue was exposed and fixed.

We were not content to just improve basic ID multisig capability, given @allbits suggestions of how he believed multisig could be easier. With the benefit of his ideas and testing support, we were able to upgrade Verus multisig capabilities to an ease of use and level of capability beyond other cryptocurrency networks we are aware of today.

While the Ethereum bridge on testnet or PBaaS going live on mainnet are both milestones likely to wake many up to the power of Verus, ease of use for otherwise impossible or extremely difficult and important use cases will keep users who discover Verus on our shared community platform as collaborators in its continuous improvement.

In this release, it is now possible, on both mainnet and testnet, to issue any “sendcurrency” command with the source being a multisig ID, for which you do not have all the keys present in your wallet. If you do, there will be a return error in operation status, from both GUI or CLI, and in that error will be the partially signed transaction, which can be used by applications or with copy and paste to send to other signers with partial authority over the source ID. On mainnet, destinations for such a transaction can include IDs, private addresses with memos to a z-address or ID:private, and transparent addresses. On testnet, such transactions can include all that is possible on mainnet as well as multiple currencies, currency conversions, and cross-chain sends.

To our knowledge, this release raises the industry standard for multisig capability and its ease of execution on the blockchain to a new level, even before considering the multisig revocation and recovery capabilities. What’s even more exciting is that while finishing this, we invented a new multi-level multisig syntax for sendcurrency that is not yet implemented, but is actually already enabled by the mainnet protocol. When we or anyone starts taking advantage of that capability, I believe it will be a boon to organizational cooperation and commerce using the Verus network. These may not yet be the hot items of the day, but when we developed our solution for MEV, which was almost two years ago now, most people in the industry didn’t understand the problem.

Now that this release further sensitizes and hardens the network against nodes behaving badly, our immediate priority is the Ethereum bridge to testnet, followed by completion of testnet hardening and mainnet. As usual, we are a community, and though we cannot provide a specific date target for the upcoming testnet reset and following mainnet releases, your help, whether in development, testing, learning using and writing, or contribution in one way or another will help us get to that finish line sooner than later.

GUI: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v0.7.3-9

CLI: https://github.com/VerusCoin/VerusCoin/releases/tag/v0.7.3-9

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