🧙 Magical Bitcoin 🧙
Alekos Filini - @afilini
Project Goals
- Develop a set of tools and libraries for on-chain wallets
- Concentrate the effort of multiple people/companies
- Generalized, modular and extensible at its core
- Very, very ambitious: become the "standard" platform to build wallets
The Adoption Gap
- Many powerful scripting primitives are practically unused
- Even Bitcoin Core struggles with them
- Writing scripts manually is hard and dangerous
- Magical tries to fill this gap
Generalized Primitives
- Generalized wallet definitions
- Descriptors
- Multiparty signing of a transaction
- PSBT
Descriptors and Miniscript
- Formal way of "describing" how to construct a script
- Encodes the script type, structure, keys and derivation paths
- Normally generated by a Miniscript compiler
- Turns a high-level "spending policy" into a descriptor
PSBT
- Standardized encoding of transaction and partial signatures
- Contains metadata about keys derivation, inputs, change output, etc
- Starting to see adoption in many wallets
magical-bitcoin-wallet
- Main repository of the project
- Fully-working wallet library based on Descriptors and PSBT
- Generate addresses
- Monitor the blockchain (Electrum or Esplora)
- Create a transaction
- Sign a transaction
- Very minimalistic command line
- Can run in a browser (WASM)
Demo