On Un'Fe'd covenants for Bitcoin
Bitcoin Magazine explores "un-fe'd covenants," a new approach by Jeremy Rubin to enforcing conditions on Bitcoin transactions. The article examines their potential use cases and implications for Bitcoin’s programmability and security.
bitcoinmagazine.com
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A Last Resort: Un'FE'd Covenants For Bitcoin
The first part of the scheme is obviously the oracles that enforce different covenant conditions. This is a relatively straightforward set up, and the first building block necessary for Jeremy’s proposal. The oracle has custody of the funds in this scheme, and is entrusted with the enforcement of the covenant conditions. You want the oracle to not have to locally keep track of the covenant conditions being enforced for each coin it custodies.
