[bitcoin-dev] Bitcoin vaults with anti-theft recovery/clawback mechanisms
ZmnSCPxj
ZmnSCPxj at protonmail.com
Thu Aug 8 00:27:32 UTC 2019
Good morning Bryan,
> - Re-vaulting transaction. This is where the magic happens. The re-vaulting
> transaction is signed during transaction tree setup, before constructing the
> delayed-spend transaction for the parent vault. The re-vaulting transaction is
> broadcasted when someone wants to prevent a coin withdrawal during the public
> observation delay period. The re-vaulting transaction spends the delayed-spend
> transaction outputs. It has a single output with a script created by running
> the entire vault setup function again. Hence, when the re-vaulting transaction
> is confirmed, all of the coins go back into a new identically-configured vault
> instead of being relinquished through the delayed-spend transaction timeout for
> hot wallet key signing.
As transactions need to be signed in reverse order, it seems to me that there is a practical limit in the number of times a vault can be used.
Basically, the number of times we run the vault setup function is the limit on number of re-vaultings possible.
Is my understanding correct?
Regards,
ZmnSCPxj
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