Bitcoin News Today: Bitcoin Gets More Flexible—Thanks to Nunchuk’s Script Revolution

Nunchuk Wallet has introduced native support for Miniscript, a feature that enables users to create customized Bitcoin scripts for enhanced security and flexibility in managing their funds. This development allows users to build and implement scripts that incorporate signature locks, timelocks, and hashlocks, facilitating tailored approaches to Bitcoin transactions [1].

The Miniscript framework, developed by Bitcoin Core contributor Pieter Wuille, serves as a higher-level scripting language that simplifies the process of creating and deploying complex Bitcoin scripts. It is designed to be analyzable and composable, ensuring that scripts behave as intended and reducing the risk of errors in implementation [1]. Nunchuk's integration of this technology offers users the ability to define spending conditions, such as requiring multiple signatures or setting time-based thresholds.

Nunchuk provides users with two basic script templates: a decaying multisig and an expanding multisig. The decaying multisig reduces the number of required signatures after a set timelock, preventing fund loss in the event of key mismanagement. Conversely, the expanding multisig increases the number of required keys over time, enhancing security as trust is added to the system [1]. Advanced users are also allowed to import custom templates they have created independently.

The feature is compatible with both Native Segwit and Taproot wallets, with several hardware wallets already supporting Miniscript. Coldcard, Tapsigner, Blockstream Jade, and Ledger all support Native Segwit Miniscript, while Coldcard and Ledger are among those that support the more advanced Taproot variant [1]. It is important to note that the use of MuSig2 with Miniscript is currently limited to software-based keys.

Nunchuk's end-to-end encrypted communication system also fully supports the collaborative construction and use of Miniscript-based wallets. This allows multiple users to securely collaborate in designing and managing Bitcoin transactions without exposing sensitive information [1]. For users interested in learning more, Nunchuk has compiled a technical guide outlining the use of Miniscript. Additionally, Pieter Wuille has provided an in-depth breakdown of the technology and basic tools for implementation.

The introduction of Miniscript support marks a significant step forward in Bitcoin's programmability and accessibility. By lowering the barrier to entry for custom script creation, Nunchuk is empowering a broader range of users to participate in the development and use of Bitcoin's advanced features, potentially expanding the network's utility and adoption [1].

Source:

[1] Nunchuk Wallet Brings Programmable Bitcoin To Everyone with Miniscript Support (https://bitcoinmagazine.com/technical/nunchuck-wallet-brings-programmable-bitcoin-to-everyone-with-miniscript-support)