Bounty Mission Success: Multisignature Transaction Guide Complete

10개월 전


What transpired over the past month with regards to multisignature transactions is a true testament to what the Steem community can do if we work together towards a common goal. We now have four great guides on how to use multisignature transactions on Steem!!

For those of you who are just interested in getting the guides, you can scroll down to the bottom of the post. For the rest of you, please read on :)

What are Multisignature Transactions? (Background Info)

Multisignature transactions are a security feature that requires a transaction to be signed by multiple parties (each with their own key) before the transaction is considered valid. They are an extremely useful security feature that provide support for a lot of beneficial things.

A lot of investors will consider multisignature transactions a requirement in order to purchase and hold a coin. Many developers can also use multisignature transactions to add additional layers of security to their applications and tools. There are even some creative ways they can be used to design fancy features within applications.

The Bounty Process

The Steem blockchain has always supported multisignature transactions, although they have been extremely underutilized due to lack of proper tooling and guides.

About a month ago I started talking to other witnesses, developers, and stakeholders about the possibility for offering a bounty to incentivize people in the community to help solve the problem and create better tooling and guides.

I was planning to offer 100 STEEM for a bounty to create a multisignature transaction guide that would give the community the information they need to properly use multisignature transactions. I was amazed to see how many other people quickly jumped in and offered to pitch in 100 STEEM of their own to add to the bounty!

Within a few weeks, we had a total of 1,500 STEEM added to the bounty - thanks to all our contributors: @transisto, @elear, @therealwolf, @drakos, @instructor2121, @sorin.cristescu, @clayop, @ausbitbank, @thecryptodrive, @yabapmatt, @aggroed, @cervantes, @upheaver, @lukestokes, and me (@timcliff).

Five days ago we officially launched the 1,500 STEEM Bounty to create a multisignature transaction guide. I was blown away by the results!! (Details below.)

Bounty Results

There was a reason that we all chipped in 100 STEEM to make this a 1,500 STEEM bounty - the problem we were trying to solve was hard! This is something that had not been addressed in years, and I had spoken to several people who had tried.

When we put together the bounty, we were unsure if we were even going to get a successful submission. We put in a clause to the rules that: If no valid submissions have been received by 23:59 (UTC) on March 31, 2019 then the bounty will be void/canceled - because we weren't even sure if 1,500 STEEM would be enough to motivate someone to solve the problem.

It turns out it was! In fact, within a few hours - we had MULTIPLE PEOPLE who had solved it!!

Bounty Winner

Even though it was very unexpected to have multiple submissions so quickly, we did have terms on how to deal with it. The terms stated that If there are multiple submissions, they will be evaluated in the order that they are received. The first submission to receive 12/15 approval will be the winner of the bounty.

@crokkon was the first to submit his entry, and the committee voted on his submission. We ruled that the submission did meet the terms of the bounty, and @crokkon should be awarded the 1,500 STEEM.

Congratulations @crokkon! Great job, and thank you so much for your contribution to Steem!!!

Heavy Lifter Award

@holger80 was the third person to submit an entry to the bounty. Due to the terms, he was not eligible for the 1,500 STEEM (since @crokkon won), although it is important to mention how important @holger80's work was for the success of this bounty.

All four submissions that we received for the bounty contest used the beem library, which @holger80 is responsible for creating and maintaining. Ironically @holger80 was later to submitting his guide to the bounty contest because he was spending the day upgrading beem to better support multisignature transactions.

Several people who were involved in the bounty have decided to pitch in some additional STEEM to reward @holger80 for his efforts. The contributions include: myself (100 STEEM), @starkerz (50 STEEM), @thecryptodrive (a large Steemvoter guild upvote), @drakos (33 STEEM), and @cervantes (33 STEEM).

If you would like to help recognize @holger80 for his amazing work in adding multisig support to beem - feel free to send some more STEEM/SBD his way ;)

Also, @holger80 is one of our backup witnesses who puts in a ton of effort to improve the Steem blockchain and community. If you have any available witness votes to use, you should check him out and consider giving him your vote!

Honorable Mentions

@tcpolymath and @stoodkev also both submitted great guides to the contest within the first 24 hours. Even though they did not win the bounty (due to not being first) their work should also not go unrecognized.

Several people who were involved in the bounty have also decided to pitch in some additional STEEM to reward @tcpolymath and @stoodkev for their efforts. The contributions include: myself (50 STEEM each), @starkerz (25 STEEM each), @thecryptodrive (a large Steemvoter guild upvote), @drakos (33 STEEM each), and @cervantes (33 STEEM each).

If you would like to help recognize @tcpolymath and @stoodkev for their contributions - feel free to send some more STEEM/SBD their way ;)

Payout Terms (fine print)

The terms of the bounty state that each of the 15 contributors will send their STEEM individually, so the winners should be receiving their awards from each of us over the next few days.

The Multisignature Transaction Guides

Here are the four guides that we now have as a result of the bounty:

Thanks @crokkon, @tcpolymath, @holger80, and @stoodkev!!

Bonus - A Multisignature Transaction App

Now with all the infrastructure in place, the developer community should have what they need to start using multisignature transactions to their full advantage!

We already have one dev who created a multisignature transaction app :) You can check it out here: msteem - Multisignature transaction app

Final Thoughts

I am constantly impressed by the amazing things that our community does. The results of this bounty are no exception. Everyone involved helped to chip in and make this a success, and the results speak for themselves. We now have great documentation and tools to support multisignature transactions =)

Great job everyone!!!

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OMG, wow, thank you so much!!!
This wasn't the way I initially planned to spend my Friday evening, but hey, I won't complain :)

Also from me a big shout-out to @holger80, the integration into beempy makes multi-sig much more accessible to users than my variant relying on scripts on top of beem. Congratulations to the other entries as well, I think this contest brought some great tools to life!


Kudos to all of you !

Posted using Partiko iOS

Thanks for organizing this bounty and thanks a lot to all bounty contributors!
I'm looking forward to the next one :).

Investor: "- What do I buy if I buy STEEM?"
Me: "- You buy access to this amazing community!"

Wow, thank you, guys. Looking forward to the next one.

Congratulations @crokkon! Send you the 100 STEEM.

And a big thank you, of course, to all the rest. Loved the work you guys did and send 25 STEEM to each one of you (@tcpolymath, @holger80 & @stoodkev).

Please keep it up - we need more development like this!

And thanks @timcliff for starting the idea of the bounty!

Congrats @crokkon.
You really deserved your reward (I didn't even notice that bounty, and wondered why that topic got so popular. Now I know xD)

Let's hope we see some cool multisig stuff around soon :-)

I'm happy to see the community's power to get things done, with some monetary incentive :)
My part of the funds have been transferred to the winners, congrats everyone.

That's the power of this community!

Expecting some good results within a 3 month period but instead...there you go. Multiple valid entries within the first 24 hours!!
Congrats to everyone and of course congrats to the winner.

PS. May this be an example of how Steem / Steemit should be promoted. Miracles happen when people are motivated...

This is great to read about. My technical knowledge is too low to fully get what was built. However, I love the cooperation and shout out to all involved! Congrats everyone.

Congratulations @crokkon! Big thanks to everyone who participated and to everyone who supported this initiative. This is an effective way to move Steem forward.

As a small-time investor, I love that there is development to improve STEEM. I appreciate the supporters, especially for rewarding the efforts of the non-winners. Very classy guestures. Thanks to all for your work and support.

Great contest for such a useful tool in the end. Where could I participate / donate to the new bounties like this?
This is what we need now that Steem Inc is « gone.

Posted using Partiko iOS


That's a good question. I don't have a great answer for you, since they are typically done in a decentralized way. For this one, I basically just started talking to the witnesses and stakeholders that I am in regular contact with, and people volunteered. I can keep you in mind for future ones :)


It would be great, please do.

Posted using Partiko iOS

Congrats @crokon, and thank you @holger80, @tcpolymath, @stoodkev for your quick reaction and effords. Your rewards has been transfered. Keep doing this great job!

fantastic work from everyone involved in this

Love the idea of bounties and I'm even more excited it got a great response plus a successful result! Cheers to all who were involved!

Hi @timliff, thank you for great work from @holger80! I would love to give him with 20 SVS (@SmartVote Shares), don't know if that will works for him or not! Let me know so I can buy 20 SVS for him!
Best Regards,
More info about @smartvote here:


Sorry, I don’t really know anything about that. If it is something you want to ask him, you should reach out to him directly on discord.


ah, just want to give him my support over @smartvote service, don't know if he want to take it or not. Thanks you anyway!

Suena interesante. Pero no entendí nada la verdad.
Veré después si ayudándome con el traductor capto algo de todo esto.


@cervantes puede ser una buena persona para ayudar a explicarlo si necesita una traducción al español :)

This post has been included in the latest edition of SOS Daily News - a digest of all you need to know about the State of Steem.

Congratulations @crokkon!!

Within a few weeks, we had a total of 1,500 STEEM added to the bounty - thanks to all our contributors: @transisto, @elear, @therealwolf, @drakos, @instructor2121, @sorin.cristescu, @clayop, @ausbitbank, @thecryptodrive, @yabapmatt, @aggroed, @cervantes, @upheaver, @lukestokes, and me (@timcliff).

Supporting the Spanish language @cervantes

Thanks for the useful post! Good info for newbies;)


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