Sean Ryan of Anchorage Digital presents OP_VAULT, or how vaults and reactive security enhance custody for institutions.
- Vaults offer a way to recover assets after a private key compromise
- BIP 345 proposes an opcode-based vault design, supporting reactive security and time-delayed withdrawals.
- The vault mechanism utilizes a phased approach to enhance protection, including trigger and recovery paths.
- Vaults can add resilience against physical attacks by enforcing time-locked access, mitigating “$5 wrench attacks”
- Insurance and risk-sharing mechanisms for Bitcoin custody need development, and vaults could support insurability, encouraging institutional adoption.
