From f31713576d19e26478ea4b70a4d7d9f58d418329 Mon Sep 17 00:00:00 2001
From: Matias Alejo Garcia <ematiu@gmail.com>
Date: Thu, 1 May 2014 16:37:31 -0300
Subject: [PATCH] readme updated

---
 README.md | 57 +++++++++++++++++++++++++++++++++++++++++++++++++++++++
 1 file changed, 57 insertions(+)

diff --git a/README.md b/README.md
index 0a97b866a..743bc9b01 100644
--- a/README.md
+++ b/README.md
@@ -29,3 +29,60 @@ PORT=3003 node app.js
 PORT=3004 node app.js
 PORT=3005 node app.js
 ```
+
+About Copay
+===========
+
+General
+-------
+
+*Copay* implements a multisig wallet using p2sh addresses. It support multiple wallet configurations, like 3-of-5
+(3 required signatures from 5 participant peers) or 2-of-3.  To generate addresses to receive coins,
+*Copay* needs the public keys of all the participat peers in  the wallet. Those public keys, among the 
+wallet configuration, are combined to generate a single address to receive a payment.  
+
+To unlock the payment, and spend the wallet's funds, the needed signatures need to be collected an put togheter
+in the transaction. Each peer manage her own private key, and that key is never transmited to other
+peers. Once a transaction proposal is created, the proposal is distributed among the peers and each peer
+can sign the transaction locally. Once the transaction is complete, the last signing peer will broadcast the 
+transaction to the bitcoin network, using a public API for that (Insight API by default in *Copay*)..
+
+*Copay* also implements BIP32 to generate new addresses for the peers. This mean that the actual piece of 
+information shared between the peers is an extended public key, from which is possible to derive more
+public keys so the wallet can use them. Each peer holds for himself his extended private key, to be able
+to sign the incoming transaction proposals.
+
+Serverless web
+--------------
+*Copay* software does not need an application server to run. All the software is implemented in client-side
+Javascript. For persistent storage, the client browser's *localStorage* is used. This information is
+stored encryped using the peer's password. Also it is possible (and recommended) to backup that information
+with using one of the options provided by *Copay*, like file downloading.  Without a proper backup, all 
+wallets funds can be lost if the browser's localStorage is deleted, or the browser installation deleted.
+
+Peer communications
+-------------------
+*Copay* use peer-to-peer (p2p) networking to comunicate the parties. Parties exchange transaction 
+proposals, public keys, nicknames and some wallet options. As mentioned above, private keys are *no*
+sent to the network. 
+
+webRTC is the used protocol. A p2p facilitator server is needed to allow the peers to find each other.
+ *Copay* uses the open-sourced *peerjs* 
+server implementation. Wallet participants can use a public peerjs server or install their own. Once the peers
+find each other, a true p2p connection is established and there is no flow of information to the
+server, only between the peers.
+
+webRTC uses DTLS to secure communications between the peers, and each peer use a self-signed
+certificate. On top of that, *Copay* peers authenticate theyself by 2 factors: An identity key
+and a network key. The identity key is a ECDSA public key derived from the 
+
+
+
+wallet is created, the pubkey of the creator and a random 'network key' is created. This two parameters
+need to be securely shared between the peers, when setting up the wallet. 
+
+
+
+
+
+