OP_Vault is a new idea for Bitcoin that adds an extra, programmable layer of protection to how coins are spent. It is described in Bitcoin Improvement Proposal 345, which explains the technical rules and suggests a script design.
OP_Vault allows people to lock up their funds so that spending them must follow certain steps. These steps might include a waiting period before the money can be moved, a special 'unvault' action to start spending, and a way to recover funds if something seems off. This setup is designed to make theft harder while still letting people withdraw their money when needed.
Developers created OP_Vault to help wallet makers and users store Bitcoin more safely than with simple single-key setups. The idea builds on earlier ways to control how and when coins can move, but aims to put these controls directly on the Bitcoin blockchain instead of just using outside tools. It also uses ideas from past proposals that make it easier to set up these secure spending methods.
To make a vault, someone sends coins into a script that sets certain rules. When the owner wants to spend the coins, they start by using the unvault action. This does not move the money right away. Instead, it begins a waiting period. During this time, the owner or others can check if the unvault action seems right. If everything is fine, the coins go to their final destination. If not, there is a way to recover the funds and send them back to a safe address. The main parts that make this work are the recovery path, the unvault key, and the unvault target.
Since the vault handles waiting and recovery rules on its own, users have more time to notice and stop unauthorized spending. This makes it harder for thieves to steal money if a single key is lost or a device is hacked. The design is also flexible, allowing things like partial unvaults or sending funds to different places. These features make vaults helpful for personal savings, custodians, and companies that manage user funds.
Adding vault rules makes things more complex. Wallets will need better user interfaces and good monitoring to make the delay and recovery system work well. These on-chain rules can also slow down how fast coins move, which might not work for people who want instant transfers. Also, any new code or rule changes can lead to debates about safety and how Bitcoin will work in the future.
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