Emulating Covenants While Minimizing Trust
summary
Proposes an emulation-first approach that validates full post-fork script-path spends inside a TE and converts them to Taproot key-path signatures so they are indistinguishable on-chain. Implements a Rust library called confidential-script running in AWS Nitro Enclaves + KMS, using Nyx for reproducible builds and the Bitcoin kernel for real consensus verification; demo boots an enclave, loads a key, emulates a covenant transaction and returns a valid Schnorr-signed tx. Notes MuSig2 multi-signer option, AWS availability and trust limits, and offline address generation.
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chapters (16)
- 0:00Trusted execution and covenants
- 1:04Adopting new Bitcoin features
- 3:35Soft fork activation strategies
- 7:26Emulation first approach
- 9:15Trust minimization with TEEs
- 12:03Trust Execution Environments
- 13:50Confidential Script library
- 15:54Address generation and keys
- 19:35Emulated spending validation
- 23:27Verifier API and Musig2
- 26:16Multi-user transactions
- 31:07Live demo: confidential script
- 33:16Security model and trust
- 37:49Use cases and risks
- 39:14Next steps and roadmap
- 42:25Q&A
