Hello, I have created a draft RSKIP with co-author @SergioDemianLernerRSKIP-X: Expanding the emergency multisig. The purpose of the proposal is to expand the Iris emergency multisig from a 3-of-4 multisig to a 7-of-12 multisig using Schnorr key aggregation for cost savings.
I view this change as one more stepping stone on the path to hardening the peg via other more elaborate methods, such as setting up a full backup Powpeg (discussed as an alternative considered in the RSKIP) and/or other methods such as a hashrate escrow or zk-SNARK two-way peg.
As a co-author, I fully support this improvement.
There is a change from the last draft version I read: you added signature aggregation to it, which is great but as we discussed, this will delay the implementation until the RSK bridge accepts/creates Taproot transactions.
I don’t think that we’ll be able to support Taproot in the next hardfork, but in the following. Still sooner than any UTXO time-lock could potentially expire.
If we want Taproot activated in the next RSK hard fork, then we better find more core devs to work on it.
Yes, I am expecting Taproot + Schnorr key aggregation support to come not in the next hard fork but the following. Thank you for clarifying that here as well And thank you for your help with this Sergio!
And thank you for your help with this Sergio!