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First idea: make scripts similar to Liquid multisig backup scheme and embed it into Electrum. But the developer is not limited by this. The code will be publicly reviewed through mediation of HypeCoinNews, Russian Telegram Channel about Bitcoin.
PS, Bitcoin Script example:
// Liquid-like federated pegin with emergency recovery keys
$federation = 4 of [ pk(A), pk(B), pk(C), pk(D), pk(E) ]; $recovery = 2 of [ pk(F), pk(G), pk(I) ]; $timeout = older(3 months);
likely@$federation || ($timeout && $recovery)
Can the timeout be defined in a way that any any transaction (showing ownership of the private key) automatically moves the timeout?
I think it would be great if something like this could become the default in personal wallets eventually.
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I think it is possible. But it will be on behalf of developer to determine best option. For now there is no solution at all so any could be beneficial for some users.
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Crowdfunding via Etleneum Features contract
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