OP_VAULTmakes use of a highly secure key as an unlikely recovery path in the event of an unplanned unvaulting attempt by a bad actor
- Alice spends UTXOs into vault
- Alice is running software to monitor the blockchain for spends of the vault outpoints
- An unvaulting attempt is triggered: either by Alice or by Bob
- If Alice triggered it, she must wait for a preconfigured amount of time (spend delay) after which the UTXOs will arrive at her spend destination
- If Bob triggered it then Alice can leverage the preconfigured delay time to sweep the funds to a predefined desination owned
by her before they arrive to Bob's wallet
- What is a rollup?
- A rollup blockchain is a type of blockchain that processes transactions on another, faster blockchain and then ports the transaction data from the rollup chain back to the parent blockchain at a fraction of the price
- Heavily used in Ethereum due to the complexity of txs on various defi plarforms and the high gas prices on Ethereum
- What is Rollkit?
- Rollkit combines an "execution environment" with their Rollkit software to allow anyone to start a "sovereign rollup" sidechain
- Doing so would allow the creator to run something like the EVM (ethereum virtual machine) as the execution environment
- The Rollkit software then handles the writing / reading of the rollup tx data from / to the bitcoin blockchain
- Wtf does this mean?
- Rollkit lets you run your own rollup side chain that uses the EVM to execute ethereum-like txs, doing ethereum-like things on your own sovereign rollup chain and store the tx data on the bitcoin blockchain
- Others could use your rollup chain to do similar things, so imagine basically any features available on Ethereum can be done on the rollup chain and the tx data is stored on Bitcoin taking advantage of the security, the blockspace and the availability (uptime) of the bitcoin blockchain
- Example: I start BryChain sovereign rollup, I run the EVM, I create Bry Bucks, I submit that tx data to bitcoin's chain; Stephen runs a BryChain rollup node, syncs to the network getting the lastest rollup txs from the bitcoin blockchain and then buys BryBucks with the bitcoin blockchain being the "middle man" for the data about the existance and validity of the txs on BryChain