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2-Factor Altcoin

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_kn

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After seeing the attached image on reddit, I got to thinking that the precursor network could easily be its own Bitcoin "sister network," and handle all the functionality for the "partially usable tx." The great part would be BTC could still function on its own, but the 2factor blockchain would be there for anyone who wanted extra security.

Does anyone know of a coin like this already? I've looked, but haven't seen anything. Any critique? Suggestions?

Posted on March 8, 2014 at 7:21 PM

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• rubenalexander

  

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  I love this idea. What would be the mechanism for the 2nd authentication? The only thing that comes to mind is transferring 1 satoshi with a transaction message for verification.

  Posted on March 8, 2014 at 7:38 PM
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• rubenalexander

  

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  Actually, Mastercoin has a feature that is similar. Go here: https://github.com/mastercoin-MSC/spec and search for guardian.

  Posted on March 8, 2014 at 7:45 PM
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• _kn

  

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  Awesome, thanks. :)  I've read a bit about metacoins, but need to read more.

  Posted on March 12, 2014 at 5:21 AM
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• yufu571

  

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  to my knowledge, there were no such coin yet.

  Posted on March 12, 2014 at 7:23 AM
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• Shatteredzen

  

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   A two factor authentication process for signing transactions would be dynamite. Perhaps an SMS pin issue could be incorporated from the blockchain in some way? For example, you send the transaction with your wallet and then enter the pin generated to you via encrypted text?
  

  Posted on March 19, 2014 at 5:29 AM
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