MuSig2 Is Ready Pending Two New BIPs: Introducing A New Era Of Multisig Privacy

Traditionally, creating an n-of-n multisig using CHECKMULTISIG means you’ll publish a proportional number of signatures and public keys on the blockchain to signers in the transaction. This approach not only reveals the total number of participants in the transaction, but also incurs progressively higher transaction fees as the number of signers grow. MuSig, on the other hand, allows a group of users to collectively generate a single signature and public key to validate a transaction, which enhances privacy and lowers the transaction costs for all the signers involved.

When MuSig was initially introduced in 2018, its main shortcoming compared to CHECKMULTISIG was user experience,…

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