Oddbean new post about | logout
 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).