Bitcoin OP_CAT use cases series #4: Recursive covenants
A recursive covenant applies to the immediate transaction and subsequent transactions that spend the bitcoins, meaning the imposed conditions could be enforced recursively in perpetuity.
A recursive covenant applies to the immediate transaction and subsequent transactions that spend the bitcoins, meaning the imposed conditions could be enforced recursively in perpetuity.
Following our series #1 and #2, sCrypt demonstrates how to construct non-custodial vaults to provide enhanced security for stored bitcoins.
In this article, sCrypt enumerates the numerous applications for Merkle trees and how the OP_CAT opcode can be utilized to construct and verify blockchain transactions.
In this piece, sCrypt demonstrates a trustless sale of an Ordinal NFT using a layer-1 covenant made possible by re-enabling OP_CAT, without intermediaries.