pull down to refresh

0 sats \ 1 reply \ @mallardshead 13 Feb 2023 \ on: James O'Beirne Publishes OP_VAULT BIP bitcoin
Why would we need op_vault when we have miniscript? I'd argue a miniscript sovereign veto and decaying multi-sig is superior to op_vault, without the need for a fork. And then if we get a PSBTv2, I'm not sure we need vaults or covenants ever. I can't get behind this. I don't think L1 needs anything right now other than more Taproot adoption and we should turn our attention to BOLTs, not BIPs.
write
preview
0 sats \ 0 replies \ @fanis OP 14 Feb 2023
I'd tend to agree, but OP_VAULT still has some nice features over what it's possible to do with Miniscript:
  • no need to roll the timelocks
  • spending from the main wallet can be easier, as we easily fall back to the hard-to-spend-from wallet should there be a breach
That being said, I think this theoretical limitations to sovereign veto constructs ease of use will be addressed in the future with things like HSM.
OP_VAULT definitely feels to specialized to be really worth a soft fork, at least to me. But from what I gathered listening to and reading O'Beirne, it is by design, as less contrived proposal have fail so far. Worth a shot, if only for the fruitful discussions that this proposal brings about.
reply