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[2607:f8b0:4864:20::1132]) by gmr-mx.google.com with ESMTPS id 956f58d0204a3-66fb7c7e938si88740d50.6.2026.09.04.12.01.29 for (version=TLS1_3 cipher=TLS_AES_128_GCM_SHA256 bits=128/128); Fri, 04 Sep 2026 12:01:29 -0700 (PDT) Received-SPF: pass (google.com: domain of lilly.lezhi@gmail.com designates 2607:f8b0:4864:20::1132 as permitted sender) client-ip=2607:f8b0:4864:20::1132; Received: by mail-yw1-x1132.google.com with SMTP id 00721157ae682-865bdc6ed72so27787107b3.2 for ; Fri, 04 Sep 2026 12:01:29 -0700 (PDT) ARC-Seal: i=1; a=rsa-sha256; t=1788548489; cv=none; d=google.com; s=arc-20260327; b=owjr/X36lI9QrWVIp5jMjPngz3V42l1aYrfh5TcPLfuD6dSMHW6wLFtD/JTRneSF0v iOIlItXu2J65R0jfbHF5Iip1ro+EbDZy9eKpt4KLN67JgG24WCZgGmMxcS7E1HXQctp0 P1YHSIfNCdTsrRgHCTo8o0Jzr6kl+diTMNsjLl3srjBfsjhOYh9HNLHxixQQ5LxnHQct DxdqBg5JbHh9eUDzZxunnxbE4TtUoVX21JuIuGpY5GcYroSfOkRXYYyPzVq6rcpPuA54 FsK48+9P5vL01HkC0qwxj3petJWUwtHMJ2tpCdu0zlNN83nj+FrkYWYQBcwjzK2Ejxhu lYDg== ARC-Message-Signature: i=1; a=rsa-sha256; c=relaxed/relaxed; d=google.com; s=arc-20260327; h=to:subject:message-id:date:from:mime-version:dkim-signature; bh=ryLpnBGruJ7FmKbXNBGLOsrlEP2m45noAXlRq4HAwC8=; fh=VcGcg+Zjs9gw1uDcHbxsAILhBAcecnbJzZRdxgKVDIc=; b=PsUTxMAZURHfdetAOmR+yd47qRvNdlWMkQ7Oqdg4+FQzfDUNBMSfdy4my7eUdsgvpH 6AijQTBqzntkv2y4unYXhfd7CZd3eNi/zLghXu4YuQjCvFfrnZH/9gXpbppKxMvRdRup 2eKurWsilwgO+NmPaIQJ+nN0OdENiMwh3LGxraePR3oWLUAlH2PE/BTafMBJ/QBdZCK5 SfMeHyJ/ByTFgr3cBinWAUjntDiHCPirsqxFBfrt/s2zXb9zJNKqM6OvceXIIk4WqVJe nJEB/7M/yx9gTXg12oqvUy3+0tN7RH1MRtpUr0Fj41lCZt/5ECYn2vrJBYH+hl4tuf6q XE+w==; dara=google.com ARC-Authentication-Results: i=1; mx.google.com; arc=none X-Gm-Gg: AYBFou3LlT8JWiC3XGRnn+fGFbAjleejxYzHLprLWueiIKOCvgR/wfqjn+JiXPr/8y1 41WCXwEwp+mikHyznrFbAfxl6aBC8cawoKG5A8xec3/5qjFYu4rXhRfxBE9YE06wDH6XMqQf1t3 1jtGM8Z2HYCIYcpVTZvaLLZou5aK5akCKaXKCwCGYdbMBeUW5C35M3/Z276F4d62942u2oWOXPB P69/z6jx0zhtBxmqyC0L2scx7897sXGVa7wG+YIaaittKGHrcy0P8ajraqHv35wiIHMlK26K2Rt u9AsjDovkCzi9a2SuXkRLr56+u0wX0tNN9d7M56fgUrO7xbY6x0JsYxm+VgdDkze58Y= X-Received: by 2002:a05:690c:6e90:b0:869:718b:ea10 with SMTP id 00721157ae682-87125efa162mr47757637b3.16.1788548489197; Fri, 04 Sep 2026 12:01:29 -0700 (PDT) MIME-Version: 1.0 From: Lillian Wang Date: Fri, 4 Sep 2026 15:01:22 -0400 X-Gm-Features: AcwNN1XlL3BtI8RHQUyPTHdL1JO2Q4-4idV0_Ak6fvWu6n8dvPlWff4bo0Yn1V8 Message-ID: Subject: [bitcoindev] Comparison of Bitcoin Covenant Proposals for Vaults To: bitcoindev@googlegroups.com Content-Type: multipart/alternative; boundary="0000000000005cba01065aace5fc" X-Original-Sender: lilly.lezhi@gmail.com X-Original-Authentication-Results: gmr-mx.google.com; dkim=pass header.i=@gmail.com header.s=20251104 header.b=cdIM2GCM; arc=pass (i=1); spf=pass (google.com: domain of lilly.lezhi@gmail.com designates 2607:f8b0:4864:20::1132 as permitted sender) smtp.mailfrom=lilly.lezhi@gmail.com; dmarc=pass (p=NONE sp=QUARANTINE dis=NONE) header.from=gmail.com; dara=pass header.i=@googlegroups.com Precedence: list Mailing-list: list bitcoindev@googlegroups.com; contact bitcoindev+owners@googlegroups.com List-ID: X-Google-Group-Id: 786775582512 List-Post: , List-Help: , List-Archive: , List-Unsubscribe: , X-Spam-Score: -0.5 (/) --0000000000005cba01065aace5fc Content-Type: text/plain; charset="UTF-8" Content-Transfer-Encoding: quoted-printable Hello list, I am sharing a report comparing simplified Bitcoin vault constructions using presigned transactions, CTV, APO/APOAS, TXHASH, CCV, and an OP_CAT-based Purrfect Vault construction. Comparison factors include partial withdrawals, withdrawal address commitment timing, flexibility for in-transaction fee management, operational complexity, and on-chain cost. In the basic vault constructions we considered, CTV and APOAS have fully precomputed outputs and thus, like presigned transactions using SIGHASH_ALL, do not support arbitrary partial withdrawals. OP_CTV constrains the number of inputs, sequence values, and the current input index but not the input outpoints, allowing some flexibility in choosing fee-paying inputs. Meanwhile, APOAS omits more input information, meaning inputs can be added more freely. TXHASH and CCV enable vaults with greater but differing functionality. TXHASH allows vault designers to select which transaction fields and input or output indices to commit to. This versatility provides more support for fee management and partial withdrawals at the cost of placing greater responsibility on the implementer to ensure the correctness and security of each vault. CCV can enforce how the current input=E2=80=99s amount is distr= ibuted across different outputs, supporting partial withdrawals that require remaining value to be revaulted. Additionally, CCV vaults can commit to the withdrawal address in the unvault transaction rather than only during vault setup. OP_CAT can support more arbitrary introspection and constraints, depending on the construction, but the construction considered in this report requires more complex scripts and witnesses and is thus less practical in its current form. Here=E2=80=99s the full report: https://raw.githubusercontent.com/Skyler-Cloud/Bitcoin-Vault-Comparison/mai= n/bitcoin-vault-comparison.pdf I have also opened a discussion on Delving Bitcoin: https://delvingbitcoin.org/t/comparing-bitcoin-covenant-proposals-for-vault= s/2877 Hoping it will be useful for other work consolidating analyses of vault constructions. I'd appreciate any feedback or corrections, especially with my interpretations of the APOAS and CCV constructions, comparison methodology, and other opcode combinations or vault properties. Best, Lillian Wang --=20 You received this message because you are subscribed to the Google Groups "= Bitcoin Development Mailing List" group. To unsubscribe from this group and stop receiving emails from it, send an e= mail to bitcoindev+unsubscribe@googlegroups.com. To view this discussion visit https://groups.google.com/d/msgid/bitcoindev/= CAPRk7czXnrB%2ByGV5X5UnfcXK8UBrrmSayhFPVNFvY2b6BFsTng%40mail.gmail.com. --0000000000005cba01065aace5fc Content-Type: text/html; charset="UTF-8" Content-Transfer-Encoding: quoted-printable
Hello list,

I am sharing a report comparing simplif= ied Bitcoin vault constructions using presigned transactions, CTV, APO/APOA= S, TXHASH, CCV, and an OP_CAT-based Purrfect Vault construction. Comparison= factors include partial withdrawals, withdrawal address commitment timing,= flexibility for in-transaction fee management, operational complexity, and= on-chain cost.

In the basic vault constructions we considered, CTV = and APOAS have fully precomputed outputs and thus, like presigned transacti= ons using SIGHASH_ALL, do not support arbitrary partial withdrawals. OP_CTV= constrains the number of inputs, sequence values, and the current input in= dex but not the input outpoints, allowing some flexibility in choosing fee-= paying inputs. Meanwhile, APOAS omits more input information, meaning input= s can be added more freely.

TXHASH and CCV enable vaults with greate= r but differing functionality. TXHASH allows vault designers to select whic= h transaction fields and input or output indices to commit to. This versati= lity provides more support for fee management and partial withdrawals at th= e cost of placing greater responsibility on the implementer to ensure the c= orrectness and security of each vault. CCV can enforce how the current inpu= t=E2=80=99s amount is distributed across different outputs, supporting part= ial withdrawals that require remaining value to be revaulted. Additionally,= CCV vaults can commit to the withdrawal address in the unvault transaction= rather than only during vault setup. OP_CAT can support more arbitrary int= rospection and constraints, depending on the construction, but the construc= tion considered in this report requires more complex scripts and witnesses = and is thus less practical in its current form.

Here=E2=80=99s the f= ull report:
https://raw.githubusercontent.com/Skyler-Cloud/Bitcoin-Vault-Comparison= /main/bitcoin-vault-comparison.pdf

I have also opened a discussi= on on Delving Bitcoin:
https://d= elvingbitcoin.org/t/comparing-bitcoin-covenant-proposals-for-vaults/2877

Hoping it will be useful for other work consolidating analyses of= vault constructions. I'd appreciate any feedback or corrections, espec= ially with my interpretations of the APOAS and CCV constructions, compariso= n methodology, and other opcode combinations or vault properties.

Be= st,
Lillian Wang=C2=A0=C2=A0

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