Author: Bryan Bishop 2020-04-13 15:50:00
Published on: 2020-04-13T15:50:00+00:00
The article discusses the need for better cold storage designs that can be shared openly and reviewed by the public to increase security for all bitcoin users. The author highlights the importance of understanding that "bitcoin cold storage security is impenetrable" as the value of Bitcoin increases. The author announces the release of an open-source prototype for on-chain bitcoin vaults using pre-signed transactions and secure key deletion, which allows initiation of a recovery or clawback during the delay period. Additionally, the author mentions working with Spencer Hommel, Jacob Swambo, and Bob McElrath on two related manuscripts addressing the topic of bitcoin covenants and vaults based on pre-signed transactions, and provides links to existing implementations. The author requests feedback and discussion around these concepts. Overall, the article emphasizes the importance of improving Bitcoin's security measures.
Updated on: 2023-05-20T21:55:28.462783+00:00