Author: Billy Tetrud 2022-04-28 23:51:31
Published on: 2022-04-28T23:51:31+00:00
In a discussion about the benefits and tradeoffs of using multisig versus a wallet vault, Nadav Ivgi expressed the view that the primary benefit of a vault is the ability to keep primary wallet keys in deep cold storage, making them highly secure. The idea is to use a warmer model for covenant-encumbered two-step spending with more frequently used keys, which can themselves be cold and/or multisig, yet more accessible. A colder, more secure scheme can then be used for primary keys under the assumption that they will only need to be accessed once every several years. Billy Tetrud argued that the whole point of a wallet vault is to get the security of a multisig wallet without having to sign using as many keys. Both approaches are valid, with one offering more security and the other more convenience. In response to a query from Russell O'Connor, Tetrud clarified that the original MES vault commits to the destination address during unvaulting. In terms of the COV proposal in MES, which allows users to check that an output's scriptPubKey matches the corresponding script item from the stack, O'Connor explained that the script item's value additionally allows some wildcard values. Third-party malleability is removed when the transaction is signed with the hot wallet key.
Updated on: 2023-06-15T19:38:57.388199+00:00