Author: ZmnSCPxj 2021-08-14 01:50:45
Published on: 2021-08-14T01:50:45+00:00
In a conversation between Zac and ZmnSCPxj, the proposed functionality of controlling coins with two private keys was discussed. The proposal is to have one key that has unrestricted spending capabilities and another key that has limited spending capabilities over time. The spending limit would be intuitive and set by the user. ZmnSCPxj proposes using `nSequence` in relative-locktime mode instead of a window for implementing this functionality. Using this method creates a timeout on spending and limits the maximum value spendable per any window of the relative timelock selected. However, the disadvantage is that `nSequence` use is more obvious and discernible than `nLockTime` use. Furthermore, ZmnSCPxj notes that his proposal does impose a maximum limit on the number of windows, after which the offline keyset has to be put back online to generate a new set of transactions. The advantage of this proposal is that it can be implemented today without any consensus change.
Updated on: 2023-06-15T00:33:44.779009+00:00