Projects

Smart Vaults

Samrt Bitcoin wallet wtih taproot miniscript

categories

Bitcoin

CLIENT

COMPLETED

We believe Bitcoin is the best monetary technology but you have to trust others, which is hard. Remember how we thought Sam from FTX was a good guy? Or trust yourself to securely hold keys. We saw an opportunity to build a self-custody solution leveraging the programability of taproot miniscript for things like recovery paths after X time and decaying signatures. And leverage Nostr for identity, communication and payment coordination. That's how Smart Vaults was born, and recevied a seed round from https://wolfnyc.com/

Key Features

Secure Collaboration: Uses Nostr relays to safely share transaction details among users, promoting privacy and collaborative efforts.

Minimal Infrastructure: Requires only a Bitcoin node and a Nostr relay, facilitating easy self-hosting and lowering barriers for users and developers.

Hardware Wallet Support: Currently supports Coldcard wallets via Edge firmware and Ledger with plans to expand support as more hardware wallets adopt Miniscript in Taproot descriptors.

Vault Templates: Introduces customizable Vault templates, such as:

  • Decaying Multisig: Decrease the number of required signers over time, aiding in loss mitigation and consensus flexibility.
  • Collaborative Custody: Offers various co-signer configurations for shared asset management.
  • Social Recovery/Inheritance: Facilitates access recovery through trusted co-signers (defined by the user), preventing permanent loss.

Taproot Integration

Smart Vaults incorporates Taproot, Bitcoin's latest upgrade, bringing several advantages:

  • Enhanced Privacy: Taproot masks complex transactions as standard transactions, improving user privacy.
  • Reduced Costs: Transactions using Taproot can be more efficient, potentially lowering fees.
  • Greater Flexibility: Enables more complex conditions for spending without exposing unnecessary details on the blockchain.

Decentralized by design

The use of Nostr relays offers decentralized benefits, reducing reliance on centralized services and enhancing user control and privacy. This decentralized approach aligns with the ethos of Bitcoin, providing a resilient and censorship-resistant platform for managing digital assets.

Supported by Wolf’s Accelerator Program

Smart Vaults was selected to be a part of Wolf's accelerator program, a testament to its potential and innovative approach to decentralized finance on Bitcoin. This highly competitive 8-week program is designed to transform ideas and early-stage companies into market-ready entities. Participation in Wolf's accelerator underscores Smart Vaults commitment to becoming a competitive and investible business, with a focus on the future of decentralized finance.


Conclusion

Smart Vaults redefines Bitcoin wallet management by not just simplifying interactions with digital assets but by revolutionizing them through the strategic use of Miniscript, enhancing both the flexibility and security of transactions. The integration of Taproot amplifies this by ensuring transactions are not only more efficient but also maintain user privacy at an unprecedented level. Supported by the decentralized infrastructure of Nostr relays and enriched by the ability to create detailed transaction metadata, Smart Vaults champions user autonomy and control over their assets, Smart Vaults doesn't just set a new standard in digital asset management—it pioneers a path towards a more adaptable, secure, and user-centric Bitcoin ecosystem.

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