A Comparison of Bitcoin Covenant Proposals for Vaults
Bitcoin covenants restrict how an output may be spent by placing conditions in that output’s locking script. Covenants can be used to construct vaults, which give an owner time to recover funds after an unauthorized withdrawal attempt. This report compares simplified vault constructions using presigned transactions, CTV, APO/APOAS, TXHASH, CCV, and the OP_CAT-based Purrfect Vault. We consider their tradeoffs in terms of withdrawal flexibility, fee management, operational complexity, and on-chain cost.
Bitcoin and Quantum Computing: A Roadmap
I felt kind of guilty about my last post, so I have spent a bit of time thinking about post-quantum Bitcoin. This includes:
Thinking through specifically what I think a good “roadmap” would be to get Bitcoin to a place where it is secure in the presence of a CRQC
Surveying everything that has been going on in Bitcoin-post-quantum-land
Identifying the remaining open questions
Bitcoin and Quantum Computing
Bitcoin’s signatures are broken if a cryptographically-relevant quantum computer (CRQC) were to appear tomorrow. Bitcoin requires changes both to its code and to everyone’s wallets (at least a soft fork and many users moving coins to different types of addresses) to be secure in the presence of a CRQC.