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From: ZmnSCPxj <ZmnSCPxj@protonmail.com>
To: Bryan Bishop <kanzure@gmail.com>,
	Bitcoin Protocol Discussion
	<bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Bitcoin vaults with anti-theft recovery/clawback mechanisms
Date: Thu, 08 Aug 2019 00:27:32 +0000	[thread overview]
Message-ID: <japBRkZAIadJ9g0xOFbixrzJv4hk67ONKrjO6QuWARaeMtdIhNb7rDT_8NroxDCIVKFTjcAqukSt4sApPsJ0U9ori3bkCKmEW_jJMcXWMqc=@protonmail.com> (raw)
In-Reply-To: <CABaSBawe_oF_zoso2RQBX+7OWDoCwC7T2MeKSX9fYRUQaY_xmg@mail.gmail.com>

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


  parent reply	other threads:[~2019-08-08  0:27 UTC|newest]

Thread overview: 12+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2019-08-07 13:48 [bitcoin-dev] Bitcoin vaults with anti-theft recovery/clawback mechanisms Bryan Bishop
2019-08-07 20:32 ` Bryan Bishop
2019-08-07 21:19   ` Dustin Dettmer
2019-08-08  2:09     ` Sergio Demian Lerner
2019-08-08  3:03       ` ZmnSCPxj
2019-08-08  0:27 ` ZmnSCPxj [this message]
2019-08-08  1:16   ` Bryan Bishop
2019-08-12 14:40 ` [bitcoin-dev] Single-use-Seal Implementation Peter Todd
2019-08-12 15:01 ` [bitcoin-dev] Bitcoin vaults with anti-theft recovery/clawback mechanisms Peter Todd
2019-08-13  2:09   ` Bryan Bishop
2019-08-13 14:15     ` Peter Todd
2019-08-13  2:44 ` Praveen Baratam

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