Author: Bob McElrath 2018-11-28 14:04:13
Published on: 2018-11-28T14:04:13+00:00
The Bitcoin development community is exploring various possibilities to provide feedback on the best way of implementing a covenant/vault, given the uncertainty about which features will be deployed on mainnet. Three ways have been proposed so far; Pay-to-Timelock Signed Transaction (P2TST), OP_CHECKOUTPUTVERIFY and OP_CHECKSIGFROMSTACK. The OP_CHECKSIGFROMSTACK mechanism is being prototyped using Liquid/Elements. Johnson Lau suggested that covenants could be made using OP_CHECKSIGFROMSTACK or OP_PUSHTXDATA in light of bip-schnorr, which intentionally disallows certain use cases. Bob McElrath has been working on an experimental wallet that implements Bitcoin Covenants/Vaults following a blog post he wrote 2 years ago, using P2TST. This interacts with NOINPUT as it requires no pubkey dependency and SIGHASH_SCRIPTMASK removes any circular dependency. McElrath is excited to combine this idea with Taproot/Graftroot/g'Root.
Updated on: 2023-06-13T15:25:13.604911+00:00