What’s the Coverage and related Miniscript that’s utilized by this pockets?
The Coverage it makes use of is:
or(9@pk(major),1@and(older(X),pk(restoration)))
To run it by means of sipa’s Miniscript C++ compiler on his web site that you must substitute X for a specific quantity for the timelock e.g. 12960 is roughly 90 days in variety of blocks.
or(9@pk(major),1@and(older(12960),pk(restoration)))
The ensuing Miniscript from the C++ compiler is:
or_d(pk(major),and_v(v:pkh(restoration),older(12960)))
The ensuing Miniscript from the Rust compiler is similar (to be confirmed).
Why would I exploit this Coverage?
Compared to a 1-of-1 multisig this Coverage offers you the additional safety of a restoration key in case you lose your major key. Compared to a 2-of-2 multisig or a 2-of-3 threshold this Coverage is less complicated to spend from as you needn’t generate two signatures from two unbiased signers. Compared to a 1-of-2 threshold this Coverage prevents the restoration key getting used till after the timelock in case the safety round your restoration key is not as sturdy because the safety round your major key.
What’s mounted and what’s configurable by the person?
The timelock can clearly be modified however this pockets is not meant to assist the person creating their very own Coverage. Apparently you possibly can substitute multi keys as an alternative of the only keys too (to be confirmed)
Does it assist Taproot?
No. Using Miniscript inside a tr() descriptor shouldn’t be but spec’ed on the time of writing (February twentieth 2023). There may be some dialogue on this gist for among the proposed adjustments to Miniscript to do that.
Due to darosior for answering a few of this on IRC.