Not exactly. AFAIK, Liana uses the Bitcoin script in a way that any funds that the wallet received can be spent by the secondary key after X days (i.e. 6 months). Liana is great for businesses that send and receive large funds all the time, so in case the master key is lost (the master key could be a multisig with many participants), the funds will be locked for X days, and after which the business could use the secondary key. My solution is better for individuals who have accumulated some funds in a wallet and want to say “I’m probably not going to touch this wallet in the next 10 years, and if something happens to me I want my inheritors to be able to recover the funds into their wallet”. To do so, you leave to your inheritors a sequence of two signed transactions that will eventually transfer the funds to their wallet, with the following trick: the second transaction can enter the blockchain only X days after the first transaction (using nSequence, but no special scripts). This way, if someone broke into your inheritors’ safe and found their wallet and the two-transactions sequence and starts broadcasting them, you have X days to respond with your master key and move the funds somewhere else. It is more similar to how lightning channels work (punishing the other side if he’s trying to cheat, assuming your computer is online and detects it on the blockchain).
That's super cool and a clever way to avoid moving all utxo every 6-14 months, with potential high on-chain fees eventually. How can you get a warning that someone broadcast the time trigger transaction? You need a fullnode always on that check the address and actively notice you? I have a full node and already I would love to have a self hosted way to trigger a notification if something move on an address or any address from a given wallet (xpub), is there sometjing like that already?
Thanks. You not only avoid the fees every 6-14 months, you also avoid the need to access the master-key, for example in case you’re being paranoid and it’s a multisig hidden in different geolocations. It’s also good as a recovery solution unrelated to inheritance - in case the master-key was lost, at least the funds could reach a secondary wallet after X days. If you run Umbrel, there is @woofbot that will send you Telegram notifications for all kind of events (It can’t watch an xpub but it can watch individual addresses for incoming and outgoing transactions). To watch reliably if a transaction-id has been broadcasted, like in the case of a Timelock Recovery plan, you can simply check some blockchain explorer once a week/month. I’m also considering starting a business that will let customers sign up for notifications on their transaction ids, and if the transaction had been broadcasted we will try to contact the customer in every possible way (even a phone call at 2AM), similar to a “Stolen Vehicle” service that will contact you if somebody is trying to break into your car.