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Exaptec is industry leading experts in Robotics and AI Solutions implemented for clients using Extreme Applications Technologies utilizing practical and pragmatic Agile and Lean Product Development methods to deliver effective high ROI business solutions that integrate the best of Robotics, AI, Cloud and IoT available today. Our solutions are delivered according to a Robotics as a Service business engagement model. We evaluate and select the best fit-for-purpose Service Robots from suppliers worldwide, as well as develop our own Service Robot platforms, enhance and augment hardware and software, as well as develop software and applications for individual robots and swarms of diverse robots. We specialize in human-centric and socially sensitive Robotic Process Automation Solutions at enterprise scale. We have our own proprietary service robotics solution toolkit and framework called SEROS (Service Robotics Operations Solution) which enables scalable cloud-based "plug-and-play" robotics development and integration according to specific requirements and use-cases.

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Enter “Will robots …” into Google, and the top search is “… take my job” (followed by “… take over the world”, “… replace humans”, “… rule the world in future” – you get the picture).

Will Sex Robots Get the Vote? Setting the Robotic Record Straight

What Are the Top Startups in Oceania?

Hi All! Here is my weekly email discussing mental models, performance, business and entrepreneurship. If you love this content (please share it), but also… Check out my , connect with me on / , and read my Podcast YouTube Twitter daily newsletter. What’s in today’s newsletter? Specialize first, diversify later. Build a strong foundation in a niche before expanding your horizons. As Jeff Bezos said, "You have to pay a price for your distinctiveness." Adapt your strategy over time. Specialization and combinatorial thinking each have their place depending on your development stage. Stay agile and optimize for each phase. Deploy counterintuitive strategies (I’ll discuss them) used by all successful entrepreneurs to build strong foundations before branching out into new domains. Also know when's the right time to transition from niche focus to combinatorial thinking. Our world today is fascinated by cross-disciplinary innovation. It seems like the best ideas come from combining different fields and perspectives. I’ve written about combinatorial thinking . several times But today I’m going to tell you why you need to niche down and specialize (at least for a period of time), in your career or in your business. I have no doubt you’re asking… why would anyone wanna specialize in a narrow domain? Wouldn't that limit their potential and creativity? Didn’t you just tell us something radically different, just last week? Well, let me explain. There’s a time and place for everything and history tells us a different story. See, many of the most successful people and businesses with a deep focus on one area. started They built a strong foundation of expertise and reputation before branching out into new domains. They understood that specialization and diversification aren't mutually exclusive, but complementary strategies for growth (I’ll give you some examples in a second). Now. Why is this top of mind? About a year ago I had Joe Foster, the founder of Reebok, on my . I learned that Reebok became a global brand by specializing in women's aerobics shoes (niching down). podcast But when we met for coffee yesterday, he shared how Reebok later diversified into other sports and markets. He explained how specialization gave Reebok a competitive edge, but also how diversification helped Reebok adapt and thrive. His story inspired me to write this newsletter and explore the role of specialization in growth, and how to balance it with diversification. I believe that both approaches have their merits and challenges, and that the key is to use 'em wisely and intentionally. As Jeff Bezos said: "You have to pay a price for your distinctiveness, and it's worth it." In this newsletter, I'll share with you my perspective on how to find your niche, why you need to care about it, how to leverage it for growth, and how to expand your horizons when the time is right. I hope you'll find it useful and interesting. Finding Your Niche Finding your niche is one of the most important and challenging tasks for any aspiring creator, entrepreneur, or professional. How do you find your niche? How do you know if you have chosen the right one? How do you validate your niche before investing too much time and energy into it? Well that’s what I’m here for. Let’s start with two frameworks. The Venn Diagram Framework The Venn diagram framework for finding your niche helps you identify your unique combination of , , and that can help you create value and stand out. skills passions market opportunities This framework forces you to visualize these items. The elements you visualize are the three key factors that define your niche: : What are you good at or can become good at with practice and learning? Skills (Expertise & Experience) : What do you enjoy doing or learning about? Passions (Energy & Enthusiasm) : Who are the people who have a problem that you can solve or a need that you can fulfill? Market (Economics) Your niche is the intersection of these three factors. This is your sweet spot where you can create the most value and differentiation. The framework is very easy to implement just, follow these steps: List down all the skills, passions, and market segments that you have or are interested in. Draw a Venn diagram and see where they overlap. You can also use online tools like to create your own Venn diagram. this one Find one or more areas of overlap that are specific enough to be distinctive, but broad enough to be viable. For example, if you are skilled at writing, passionate about personal finance, and interested in serving young professionals, your niche could be writing about personal finance blog for young professionals. Just a reminder, this framework (like most others) are not perfect. It assumes that your skills, passions, and market are fixed and independent, which is not always the case. You’ll develop new skills or passions over time, or discover new market opportunities that you didn’t know existed. You’ll also find that some of your skills, passions, and market segments are interrelated or overlapping. So don’t treat this framework as a one-time exercise, but as a starting point and a guide. Revisit and update your Venn diagram regularly, and experiment with different combinations and variations. Also, always be open to feedback and data from your potential customers, and adjust your niche accordingly. The Hedgehog Concept Another useful framework to find your niche is the hedgehog concept. This concept was popularized by in his book, , where he studied the characteristics of companies that achieved sustained excellence and outperformed their competitors. Jim Collins Good to Great Collins found that one of the common traits of these companies was that they had a clear and simple understanding of what they were best at, what they were passionate about, and what drove their economic engine. He called this their “ ”, inspired by the ancient Greek parable of the hedgehog and the fox. hedgehog concept The parable goes like this: The fox is a cunning and versatile animal that knows many things and can pursue many strategies. The hedgehog is a simple and focused animal that knows one big thing and sticks to it. Every day, the fox tries to catch the hedgehog using different tricks and tactics, but every time, the hedgehog rolls into a ball of spikes and fends off the fox. The fox never learns, and the hedgehog always wins. The hedgehog concept is similar to the Venn diagram framework, but with some subtle differences. The three circles of the are: hedgehog concept This is not just a skill, but a core competency that you have or can develop that gives you a competitive edge and makes you stand out from the crowd. It is something that you can excel at and sustain over time. What you can be the best in the world at. This is not just a hobby, but a genuine love and enthusiasm for what you do. It is something that motivates you and gives you joy and fulfillment. What you are deeply passionate about. This is not just a market, but a way to measure and generate value for your customers and yourself. It is something that you can monetize and scale. What drives your economic engine. To find your niche, you need to identify the intersection of these three circles. This is where you can achieve greatness and build a lasting legacy. This is your . hedgehog concept To use this framework, you can start by asking yourself three questions: What can I be the best in the world at? What am I deeply passionate about? What drives my economic engine? The goal is to find one or more areas of overlap that are ambitious enough to challenge you, but realistic enough to achieve. Like the Venn diagram framework, this framework is not flawless. It assumes that you can objectively and accurately assess your own abilities, passions, and value proposition, which is not always easy or possible. You may also face trade-offs and conflicts between the three circles, such as having to choose between what you love and what pays well, or between what you are good at and what the market wants. Don’t treat this framework as a final answer, but as a direction and a vision. You should test and validate your hedgehog concept with your potential customers, and refine it based on feedback and results and you also have to be willing to pivot and adapt your hedgehog concept as you learn and grow. The Business Case for Niche Specialization Why do some companies and individuals succeed while others struggle? Well, like I mentioned, one key factor is specialization. One could argue a thousand different examples of companies that do diversify. But at the beginning, all great companies, hyper focus… to start. Efficiency Specializing in a niche allows you to optimize your processes and resources, and achieve higher levels of efficiency and productivity. For example, Basecamp is a software company that hyper specializes in project management tools. By concentrating on one domain, they can simplify their roles and workflows, and devote their attention to improving their core features, rather than diluting their efforts across multiple domains. Efficiency leads to profitability. Innovation Specializing in a niche also fosters innovation and adaptability. By combining different specialties within your niche, you can create new products and services that meet customer needs. For instance, Saxx Underwear specialized in men’s athletic underwear, and used their expertise to create new products like plush loungewear. Saxx is so deep in the weeds of their consumer and their niche that they notice things no one else will ever notice. They get a “ ” for their target customer so they can innovate faster than anyone else. canary in the coal mine Innovation leads to growth. Career Benefits Specialization also pays off in your career. Sommeliers, for example, advance faster and earn more than general beverage managers, despite having less diverse experience. Depth provides credibility and authority. Specialization leads to recognition. The data is clear - specializing in a niche supercharges businesses and careers, providing a competitive edge and higher earning potential. Specialization always precedes diversification. The Psychology Behind Specialization There are significant psychological advantages to specialization as well. Specialization actually helps us perform at a higher lever, with less friction. The Power of Automaticity When we deeply specialize in a niche, we train our brains to perform at an elite level with minimal effort. Through thousands of hours of deliberate practice, we develop automaticity – the ability to execute complex skills without conscious control or attention. Expert violinists can play intuitively, without thinking about note patterns or finger positions. Likewise, star athletes "trust their training" and execute in flow states. Surgeons enter trance-like focus, losing self-awareness during procedures. In short, niche specialization enables the brain to conserve mental energy and divert it towards higher-level insight and creativity. Deep skills become instinctual. Mental Models for Focus Specialists naturally use mental models like and to guide their thinking. inversion exaptation means asking This flip exposes flaws in strategies. Inversion “What would someone do to cause the opposite of my goal?” For example, if your goal is to improve employee retention, you could use inversion and ask "What would I do if I wanted to increase employee turnover?" This flipping of perspective can reveal gaps or flaws in your current strategies. It exposes assumptions, forces you to consider unintended consequences, and highlights actions that could undermine your goals. Inversion is a powerful framework specialists can use to stress test their plans and decisions. By imagining the opposite intent, they gain insights that strengthen their approach. involves applying niche skills creatively in new contexts, not just where they originated. Knowledge transfers unexpectedly. Exaptation For example, the technology behind air hockey tables was originally developed to help clean sensitive electronic components. But engineers later exapted this air suspension technology to invent a new arcade game. The key is repurposing a specific skill or innovation for a completely unrelated use case. Other examples: Using medical adhesive technology to develop soft mountaineering picks that grip ice. Leveraging expertise in aerodynamics from auto racing to design more efficient wind turbine blades. Applying knowledge of microbiome science from yogurt production to develop new probiotic therapies. Building on experience with virtual reality in gaming to create new VR-based PTSD treatments. The core idea is specialists taking their niche expertise and finding unexpected applications that create new value. It allows them to maximize the utility of their deep knowledge. Internalizing a Specialized Identity Research finds that developing a coherent identity (which comes with specialization) boosts motivation and persistence. Specializing shapes how we see ourselves. While pigeonholing has downsides, identifying with a niche provides direction and meaning. As specialists gain mastery, their skill becomes internalized as part of their self-concept. They think, "I am a marketing specialist" rather than "I do marketing." This identity inspires commitment to the craft. This deep integration of niche mastery into self-identity acts as a flywheel. As specialists gain renown in their craft, it further solidifies their self-image and commitment. Their niche obsession breeds more obsession in a virtuous cycle. Being known as the expert woodworker motivates them to become even more adept at woodworking. From Specialist to Combinatorial Thinker To tie this back into how this newsletter started, there is a time for specializing (depth) and time when it really does benefit you to become a polymath (breadth). Studies show depth and breadth can create powerful synergy: Scientists with artistic hobbies are more likely to become Nobel laureates. Diverse activities boost creativity. Inventors with patents across fields produce the most radical innovations. Varied experience connects unforeseen dots. Entrepreneurs who've worked in different industries have higher success rates. Their wider lens reveals overlooked opportunities. In summary, breadth can enhance depth. But depth comes first. Once you’ve achieved depth, you can pursue breadth, aka combinatorial thinking (if you haven’t read past newsletters), which is the art of blending skills from different domains to create new value, like musical notes mingling in a hit song. Thinkers like Scott Adams, Tim Ferriss and Elon Musk exemplify this art, combining distinct expertise into unique outcomes. Adams leveraged skills in business, humor and cartooning to create Dilbert Ferriss combines writing, entrepreneurship and self-experimentation to engage followers Musk integrates engineering, innovation and vision to launch groundbreaking ventures Transitioning from niche expertise to combinatorial thinking requires meticulous timing: Sample diverse domains to discover native strengths and passions. Before specializing: Complement your core skills to avoid tunnel vision. Stay updated on broad trends. While specializing: Leverage niche expertise into new spaces. Diversify offerings. Create novel hybrids. Post-specialization: Balance breadth and depth as needed. But always build upon a specialized foundation. Remember. Specialization brings mastery. Diversification brings growth. Both are essential. The key is embracing each phase fully in its time. Don't rush from novice to polymath overnight. Start by finding your niche. Tend your craft through deep work. Gain skills unconsciously. You’ll eventually start to master . your thing Then carefully broaden your scope. See how your specialty converges with alternate modes of thought. New synapses will spark at these intersections. As Jeff Bezos says, "You have to stay alert, engaged, and continually learning." Maintain a beginner's mind along with your hard-won expertise. Your journey will have twists and turns. Specialize, diversify, oscillate. Optimize for each terrain. Enjoy the trip. And at the end of the day, keep moving forward. Momentum conquers all obstacles. Progress compounds. If you enjoyed this article, I’d love to hear from you. Email me at scott@scottdclary.com or at me and I’ll do my best to get back to everyone! tweet @ScottDClary Also published . here

The Framework Successful People Use to Become Indispensable

ফ্রেমওয়ার্ক সফল লোকেরা অপরিহার্য হয়ে উঠতে ব্যবহার করে

Der Rahmen, den erfolgreiche Menschen nutzen, um unverzichtbar zu werden

El marco que utilizan las personas exitosas para volverse indispensables

Le cadre que les personnes qui réussissent utilisent pour devenir indispensables

सफल लोग अपरिहार्य बनने के लिए जिस रूपरेखा का उपयोग करते हैं

成功者が欠かせない存在になるために使用するフレームワーク

성공한 사람들이 없어서는 안 될 존재가 되기 위해 사용하는 프레임워크

A estrutura que pessoas de sucesso usam para se tornarem indispensáveis

Схема, которую используют успешные люди, чтобы стать незаменимыми

Başarılı İnsanların Vazgeçilmez Olmak İçin Kullandığı Çerçeve

Khuôn khổ mà những người thành công sử dụng để trở thành thứ không thể thiếu

成功人士不可或缺的框架

This text opens a new series in which we will explore the inner workings of various blockchains currently being used by the industry. Today, I’m glad to present you with our first research subject: Monero, the blockchain behind XMR, a fairly well-known, privacy-centered cryptocurrency. Being anonymous, the network implements a number of interesting algorithmic and cryptographic solutions, including multisignature (or simply multisig), a digital signature scheme allowing multiple users to sign documents together as a group. Although Monero added the support for the multisignature protocol several months ago, there is still a certain lack of information online on how this technology works, so we would like to fill this gap first of all. Since the process of creating a multisignature transaction is rather complicated, we decided to focus only on its most vital aspects, including the processes of creating a wallet and exchanging keys, which we believe is enough to understand the strengths and weaknesses of this technology. We tried to make the article more readable by ditching off most of the formulas and replacing them with schemes and illustrations, so we hope it will be useful not only to experienced engineers but to beginners as well. On the Monero blockchain, the multisignature-related features is primarily used to allow for wallets, that have multiple users — which isn’t new, as pretty much the same solution was previously implemented by other digital currencies such as Bitcoin and Ethereum. In a nutshell, it allows for joint ownership of tokens which are being stored in a specific wallet. Joint ownership implies each participant has full rights to the entire amount, so there’s a reasonable limitation on its disposal: every transaction must be authorized by a certain share of participants, which is set out when the wallet is created. The total number of owners and the approval threshold define the so-called “scheme” of a wallet. For instance, a 3/3 multisig wallet has three owners who have to unanimously approve every transaction, while in case of a 2/3 wallet each owner needs just another vote to transfer funds. Cryptography As is the case with most digital currencies, the Monero blockchain relies on elliptical-curve cryptography (learn more on ). Simply put, this encryption system is valued for its relative cryptographic strength, smaller key size, and faster execution compared to many of its peers. Wikipedia Every Monero wallet employs two sets of private and public cryptographic keys, each set being comprised of a “spend key” and a “view key”. Taken together, the public view key and the public spend key of a given wallet make up the address, which is used to receive funds. The same way, adding a private view key to a public spend key will create a tracking key, which your counterparts may use to track the funds being sent to your wallet (but never the other way around, so your privacy remains safe). As you have probably guessed, the full access to a wallet is secured by a combination of its private spend and private view keys, so your private spend key must be kept in secret. For the sake of brevity, from here on we will use uppercase letters for public keys (i.e. ‘B’ for ‘public spend key’), and lowercase letters for private keys (i.e. ‘b’ for ‘private spend key’). To help you understand the notation used below, let’s take a look at a short formula showing how a public key is derived from a private key: where G is a fixed point on the elliptic curve. The multiplication of a private (scalar) key by G yields a public key, which is also a point on the same curve. Multisignature in Monero The idea behind the multisig technology is pretty straightforward: having each participant to keep only a part of a wallet’s private spend key, so that transferring funds would require approval by a number of other participants. It’s nearly impossible for any given participant to gain control over the entire private spend key, while all of them have their own unique public spend keys, as well as copies of both private and public view keys, allowing each participant to monitor the incoming funds. Creating a multisig wallet in Monero Currently, the Monero software supports only N/N and N-1/N schemes. To set up an N/N multisig wallet, the users need to complete a single round of calculations, with just one additional step required for the N-1/N scheme. The process of creating a 2/2 wallet is shown in Figure 1. Figure 1. Creating a 2/2 multisig wallet Firstly, the participants share all their private view and public spend keys, and then calculate their respective sums. The sum of the private view keys becomes the private view key for the new wallet, with its public view key being derived from the private one. Then, the public spent key is calculated the same way. If the N/N scheme was chosen, that’s all of it. The wallet is now created. If users opt for the N-1/N scheme, they would still have to share their private view and public spend keys with each other, but then each participant must multiply all public spend keys received by their own private spend key. Thus, a new set of private spend keys is created, which is called “multisignature keys,” as shown in Figure 2. Figure 2. Creating a 2/3 multisig wallet You might have noticed that in the figure above, the keys of the same color have the same value. This is because such multisignature keys have one important property expressed by the following equality: To put it simply, when multiplying a private key by a public key, the indices can be moved as one would like without affecting the result (this is, by the way, the very property of such products that underlies the elliptic curve Diffie–Hellman key exchange protocol). This means that every multisig key is shared between exactly two participants. To calculate a public spend key, which must be the same for all participants, each of them derives a public key from their respective multisignature key, and shares the result with others. Then the public spend key is calculated by summing the distinct values of all public multisig keys. Now the participants only have to calculate a view key, which is done the same way as for a 2/2 wallet. So, now that the wallet is created, let’s move on to looking at how it could be used. Monero transactions To explain how to launch a multisig transaction, let’s briefly consider how Monero deals with funds transfer in general. In a very simplified form (not taking into account ring signatures and RingCT), it works like this: Figure 3. Simplified representation of a transaction On the right are the transaction outputs, or the money which the transaction generates, and on the left are the inputs, or the money being destroyed when said transaction is complete. So, when Alice wants to send 1 XMR to Bob, she takes 1 XMR, plus the necessary commission, from her unspent outputs, puts it to her inputs, calculates a key image for each of them, and finally generates outputs for 1 XMR and an output key for each of them. To complete the transaction, Bob uses his private view and public spend keys to restore the output keys for each output generated by Alice, and if there’s a match between the restored and the incoming keys, he will consider this output as intended for him. From the network’s point of view, a multisig transaction isn’t in any sense different, although it’s a little bit more complicated to initiate. It’s usually done in several steps: Participants exchange partial key images for all known outputs; Participants re-synchronize their wallets in order to learn its accurate balance taking into account the key images; The sender prepares the transaction, signs it, and sends it over to one of his counterparts; Each subsequent participant adds its own part of the RingCT signature; The last signer completes the creation of RingCT. Generating key images and sharing outputs When scanning the blockchain (i.e. during the synchronization), a wallet is unable to determine whether some of the inputs are targeting its outputs, since it does not have the data to calculate key images for them, so it’s safe to say that it only accounts for incoming transactions. In order to run a transaction correctly, a user needs to restore the key image for each of the outputs, then synchronize with the blockchain to determine which outputs have been spent, and then proceed to generating the transaction. In Figure 4, the process of restoring key images is shown as in case of a 2/3 wallet. Figure 4. Restoring key images as in case of a 2/3 wallet Again, to put it simply, the key image for each output is calculated by summing the distinct values of all partial key images. As can be seen from the figure above, this can be done by any two participants out of three, and, most importantly, their private keys remain undisclosed during the transaction, making it impossible for a third party to restore the complete spend key and to seize control over their funds. With this data, the initiating party can finalize the transaction, which is then sent to all confirmed participants to generate a Ring CT signature. Then, at the final stage, the transaction is signed and broadcast to the network. Data exchange automation The above are procedures for exchanging key parts and key images that need to be performed either once, or after each transaction is sent. In the current release of the Monero Core Wallet, these procedures are supposed to be performed manually by exchanging the necessary data on the secure communication channels (i.e. exporting the necessary data from the wallet and sending them via messengers or otherwise). Here is an example of the procedures required to create a 2/3 wallet and sign a transaction. Each participant performs the following commands using the monero-wallet-cli utility: [wallet 9uKCgo]: prepare_multisigMultisigV1baCWviNomMXe271W8HW4imh8SsnNEWP2bCswQfoB9MGzNZ8FUG3e8UCNm5toKQzSQH2e8rUWUCGazaCcvej1ToCQYBMovJZYaYiYWQvzsvyWruXycZdVDSsyugjEzwQNK3FUEkug2LXiH91NmekGb7kp9gK9kuoxDDhGn1nLKXUpnXR5 Send this multisig info to all other participants, then use with others’ multisig info. make_multisig <threshold> <info1> [<info2>…] This includes the PRIVATE view key, so needs to be disclosed only to that multisig wallet’s participants: [wallet 9uKCgo]: make_multisig 2 MultisigV1XQugvU4JwcwTQbKdH5qGFnavxUX54wGxNis2iN6zoLD94DahnXbyNxH1NQBp2rYRFFJCT2uiJbssHLJYEAb8X1tS5UCqTXYu3FkgRNSZt5mRNgE58iXZHPj839Pbm3ozGcXmRT6GcRMMxMjRonfYKpnPq1UyZSMN7Qr9AYin1gYyoJSh MultisigV1HVqTW8P4UNWUE8QfBaEdwDWJuXBWEPnTrKqVJiUudGG14cHREk9TKmeR9xzSs4wf4jd22mV94C2ehSViApawnpp2SpRqp19eKXLHz2JmNp7eGR6TJMt4VsDTqANRwb1FtD9weef342f5KXDRZK7iQT1MTubyHhEcFyV5aLCjjQ8owMkH Another step is needed MultisigxV1PQwytRuYGkB6UEVJ7v2S7q492cwNTdwySXyasToAuQQq73TvM1rBrog5bcYz5w2P6Z4jwKtzrHr7shRGo5mAShvLVbYtBdQNhQsizMb51K7iaWQB4te5mQaiB1cok84CbvA9WKnVpTJGyb7SbS7NwAgmpEhU812RTdzrdHp5sD41duYtRNW6qna5mTMYmtTjAEdKpKCvM6EwhV4ncWscpvoBfyYP Send this multisig info to all other participants, then use with others’ multisig info: finalize_multisig <info1> [<info2>…] [wallet 9uKCgo]: finalize_multisig MultisigxV1PdeMJo5rxcWTXDJ7rbyuacBseugsn2djZKKEdwvFYVmz73TvM1rBrog5bcYz5w2P6Z4jwKtzrHr7shRGo5mAShvLUxykuq5gho7gGQBCEa3JmBaY7rNHqqUaCUs1WWQi9tojZTMmCJJ4evwJzcXEDqcAd7ShwxsJtJtXdiATs54BbBfyCbwXbnDRKAtagJF36z74KJA58NgEmnHv23ZQeePCoacM MultisigxV1RTwyE53FjKPQaAn4ZMWM5hc8C92eJndpyKby4L9HpF2TUxykuq5gho7gGQBCEa3JmBaY7rNHqqUaCUs1WWQi9tojVbYtBdQNhQsizMb51K7iaWQB4te5mQaiB1cok84CbvA928U2yJFK86jNxtMopxHkcnYjjeYfp8TAB53Y1CukBiHfL2M4EztDALXLReXjJxkMry65Jw6vVePJp2T5CW8T8QE5 Before sending a transaction, all parties must exchange partial key images: [wallet 9uKCgo]: export_multisig_info ki1 Multisig info exported to ki1. [wallet 9uKCgo]: import_multisig_info ki2 ki3 Height 1103873, txid <f7e648915287fafca1dc67eb26267e09f92bba7ab7fd52a12600c3e6440db0eb>, 2.000000000000, idx 0/0 Height 1103882, txid <2e3a5591c741c0943a47a2bcbd1ec26493158088c88308bcbfc97423ea95c491>, 0.009000000000, idx 0/0 Multisig info imported Then the wallet is re-synchronized to account for the complete keys. After having received data on outgoing payments, one of the participants can set up the transaction: [wallet 9uKCgo]: transfer 9vUnTucAioDHD4ZqrFHXAgfLqrsC3LkZ6JFr5axBLhDiFMaHuEk33aqXimoZEMtQh5ibdYxcNSBw2hBZLAsCnuw4B4rBeZX 1 No payment id is included with this transaction. Is this okay? (Y/Yes/N/No): Y There is currently a 2 block backlog at that fee level. Is this okay? (Y/Yes/N/No)Y Transaction 1/1: Spending from address index 0 Sending 1.000000000000. The transaction fee is 0.012000000000 Is this okay? (Y/Yes/N/No): Y Unsigned transaction(s) successfully written to file: multisig_monero_tx Then the generated file is transferred to another participant to be signed and broadcast to the network: [wallet 9twQxU]: sign_multisig multisig_monero_tx Loaded 1 transactions, for 1.031762770000, fee 0.012000000000, sending 1.000000000000 to 9vUnTucAioDHD4ZqrFHXAgfLqrsC3LkZ6JFr5axBLhDiFMaHuEk33aqXimoZEMtQh5ibdYxcNSBw2hBZLAsCnuw4B4rBeZX, 0.019762770000 change to 9uKCgopHzXrQLnph1ZNFQgdxZZyGhKRLfaNv7EEgWc1f3LQPSZR7BP4ZZn4oH7kAbX3kCd4oDYHg6hE541rQTKtHB7ufnmk, with min ring size 7, no payment ID. Is this okay? (Y/Yes/N/No): Y Transaction successfully signed to file multisig_monero_tx, txid 1d28af64bc78d05b625c4f7af7c321d4c8943c4c2692f57aa53e303387f40db6 [wallet 9twQxU]: submit_multisig multisig_monero_tx Loaded 1 transactions, for 1.031762770000, fee 0.012000000000, sending 1.000000000000 to 9vUnTucAioDHD4ZqrFHXAgfLqrsC3LkZ6JFr5axBLhDiFMaHuEk33aqXimoZEMtQh5ibdYxcNSBw2hBZLAsCnuw4B4rBeZX, 0.019762770000 change to 9uKCgopHzXrQLnph1ZNFQgdxZZyGhKRLfaNv7EEgWc1f3LQPSZR7BP4ZZn4oH7kAbX3kCd4oDYHg6hE541rQTKtHB7ufnmk, with min ring size 7, no payment ID. Is this okay? (Y/Yes/N/No): Y Transaction successfully submitted, transaction <1d28af64bc78d05b625c4f7af7c321d4c8943c4c2692f57aa53e303387f40db6> You can check its status by using the command. show_transfers Obviously, with a great desire to use multisig wallets, it’s possible, but this approach is unlikely to suit beginners or mobile users. Therefore, we are developing our own solution that would allow us to automate the exchange of such data without violating the privacy of the parties and the security of transactions, making multisig applications on Monero accessible to more people. Our solution is being designed to support both standard and multisig wallets, and is being run on an open server that provides the exchange and transfer of data to corresponding wallets. More information on our contribution to Monero can be found at , as well as at the project’s page at https://exan.tech/en/projects/monero/ https://wallet.exan.tech. Resume Currently, only a limited set of signature schemes is supported, but the developers plan to extend the list to allow for arbitrary values such as 2/5, etc. The only supported way to exchange necessary data is rather inconvenient, but thanks to the Monero’s open ecosystem the community puts high hopes on third-party solutions being developed to improve the situation. Later in this series, we will talk about other aspects of the Monero blockchain, such as RingCT and ring signatures, wallets architecture and the libwallet library, as well as the network’s future prospects. Please ask your questions in the comment section, suggest topics for new cryptocurrency-related articles, and subscribe to our blog to stay abreast of our upcoming events and valuable publications.

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