Bitcoin Covenants with Andrew Poelstra

Welcome to The Bitcoin Layer, where we bring you research, analysis, and education for all things bitcoin and macro. In this episode, Nik is joined by Andrew Poelstra, head of research at Blockstream. Andrew presents his argument for Bitcoin covenants and why he believes introducing OP_CAT via soft fork is a sensible first step. In a fascinating dive into bitcoin's cryptography and inner workings, Andrew teaches us about vault construction and rate limiting, why he believes OP_CAT as a soft fork is low risk, and some of the greater implications of covenants on Bitcoin.

Relevant websites:
https://github.com/apoelstra
Codex32: Shamir Secret Sharing Scheme Book: https://secretcodex32.com/
Blockstream Research Twitter account:   / blksresearch  
The OG bitcointalk post where gmax suggested listing crazy covenant ideas: https://bitcointalk.org/index.php?top...
Andrew's blog posts on how to do covenants using only OP_CAT and taproot:
https://www.wpsoftware.net/andrew/blo...
https://www.wpsoftware.net/andrew/blo...

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