--- Log opened Sat Jun 04 00:00:43 2022 01:34 -!- AaronvanW [~AaronvanW@user/AaronvanW] has joined ##ctv-bip-review 04:22 -!- AaronvanW [~AaronvanW@user/AaronvanW] has quit [Quit: Leaving...] 11:08 < shesek> harding, another use-case is loss recovery, where you nominate something like 3-of-4 best friends to help you recover funds in case you lose access to your keys. technically the covenant design is very similar to a vault, only that instead of a 'cold key' you have the 'user key' (that can unconditionally control funds), the 'hot key' becomes the 11:08 < shesek> 'friends recovery key(s)' (which is encumbered to only spend through a CSV-enforced delay), and that you would typically use a longer delay period (maybe something like 6-12 months instead of the few days/weeks for a vault) 11:09 < shesek> I did a hackathon PoC for this at https://github.com/shesek/plebfi2022-social-recovery. the basic covenant design (written in minsc) can be seen here: https://min.sc/nextc/#gist=001cf1fcb0e24ca9f3614c4db9bfe57d:1 11:11 < shesek> there are also some hackathon slides here: https://docs.google.com/presentation/d/1B59CdMIXW-wSW6CaLSgo7y4kvgrEwVgfY14IW2XV_MA/edit#slide=id.g1233c9cc9c1_3_18 12:01 < harding> shesek: cool! Yeah, I'd categorize that as a type of vault but one that's distinct enough from the other types of vaults in my doc that it also deserves a mention. Thanks! 14:15 < shesek> it might make sense to classify it as a vault due to the striking technical similarity (basically the exact same Script with different params), but in my mind a vault is an anti-theft mechanism while this doesn't help with that at all, and in fact even increases the risk of theft (if your friends collude and you don't abort the recovery in time) 14:15 < shesek> harding, 14:17 < shesek> the two designs could be combined though, so you have three keys - a cold user key that can spend unconditionally, a hot user key that can spend through a short CSV-enforced delay, and a recovery key that can spend through a long delay 21:00 -!- cryptoquick [~cryptoqui@8.46.89.33] has quit [Quit: Ping timeout (120 seconds)] 21:02 -!- cryptoquick [~cryptoqui@8.46.89.33] has joined ##ctv-bip-review 21:59 -!- cryptoquick [~cryptoqui@8.46.89.33] has quit [Quit: The Lounge - https://thelounge.chat] --- Log closed Sun Jun 05 00:00:44 2022