TL;DR: Continuing from the previous post on Nunchuk fundamentals, today we dive into practical scenarios: how to use collaborative multisig for inheritance plans, “family vaults,” and secure daily operation. The key is to think in terms of flexible thresholds, clear roles, and periodic procedures that are tested while alive, not when it’s too late.
“Family Vaults”: Co-Custody That Brings Family Together
- Core idea: your family (or trusted circle) is part of a multisig, but without absolute custody.
- Classic example: 2-of-3 with Key-User + Key-Backup + Key-Family.
- Benefit: your family can help recover funds in case of accident or travel, but they can never move funds without you.
- This creates a social + cryptographic consensus, more human than “me alone against the world.”
Thresholds and Typical Scenarios
1. Extended Travel
- Configure 2-of-3: you + family agent can sign if your main hardware is inaccessible.
- With a 30–90 day timelock, a third key can act as insurance.
2. Hospitalization or Temporary Incapacity
- Your spouse or close family member can act as cosigner, but only after a set time.
- Ensures access without needing immediate legal paperwork.
3. Death / Inheritance
- Policy example:
or( pk(Holder), and( after(6m), pk(Heir) ) ). - Once the timelock passes, inheritance activates automatically.
- Everything is on the blockchain, not dependent on a notary’s will.
Practical Procedures
Key Rotation
- Every 12–18 months: replace at least 1 key to reduce exposure risk.
- Nunchuk makes Key Replacement easy: import the new one, verify, and the old one is removed from the policy.
Quarterly Drill (fire-drill)
- Simulate loss of 1 key and spend a small amount on testnet.
- Check:
- Does everyone know what to do?
- Are backups accessible?
- Does the external cosigner respond?
Anti-Panic Checklist
- 📜 Document of policies in human language.
- 🔑 Backups of keys + configuration file.
- ⏳ Record of active timelocks.
- 🧩 Contacts of cosigners (family/agents).
- 🛠 Procedure for rotation in case of leak or loss.
Practical Case: Inheritance Without Custodians
- Setup: 2-of-3 vault (Holder, Family, Backup).
- Daily operation: Holder + Backup sign.
- Emergency: if 6 months pass without activity, the Family key can sign alone.
- Benefit: no one can block inheritance, and no one can move funds prematurely.
Useful Resources
Closing
- Action today: set up a test “family vault” on testnet with 2-of-3 and invite a trusted family member as cosigner.
- Question for the community: how would you balance the timeframe of an inheritance timelock? Months, years… what feels most realistic?
Next post: Liana (I) — how MiniScript makes these policies even more flexible and programmable.