Saturday, July 6, 2024

Presign transaction with unconfirmed outputs

I’m questioning whether or not the next situation is feasible. Any assist may be very appreciated.

Alice and Bob are making a (taproot) 2-of-2 multisig collectively. They don’t belief one another. They intend to fund the multisig deal with with 1 BTC every however earlier than they ship their Bitcoin to the multisig deal with, they presign a transaction (the redeem transaction) that spends 1 BTC again from the multisig to every of them. Solely when each of them have a replica of this unbroadcasted transaction, will they proceed to fund the multisig.

Is that this potential? With a purpose to presign the redeem transaction they would want to know the TXID of the outputs they intend to ship to the multisig, appropriate? So that they would want to create their separate funding transactions that go into the multisig and share the TXID with one another (however don’t broadcast it but). Then they assemble and signal the redeem transaction. Then they broadcast the funding transactions. Is that this potential or am I considering too sophisticated?

Additionally, what if the charge setting modifications throughout this course of and one of many funding transactions doesn’t get confirmed? Then the presigned redeem transaction is nugatory since utilizing RBF on the funding transaction would change the TXID and thus invalidate the presigned redeem transaction? Is there a technique to circumvent that?

Thanks so much!

EDIT: Right here is an instance of a scenario that describes what I wish to obtain. Alice and Bob wish to create a enterprise fund. They have no idea wherein startup to speculate simply but. In fact, they are going to solely spend money on a startup if each agree that it’s a good funding. So that they create a 2-of-2 multisig for this function. Earlier than funding it, nonetheless, they consider what would occur if the opposite social gathering disappears or if they won’t come to an settlement about the place to speculate. They might block the others funds indefinitely. Subsequently they wish to must choice to exit the multisig unliterally to predefined addresses.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles