Proof of Concept
The proof-of-concept of the inheritance protocol is embedded into Bitcoin Testnet Wallet, which is one of the oldest open-source mobile wallets for Android. The implementation covers basic inheritance flows, although many edge cases are not yet covered. These are multiple heirs, UTXO reorganization on the Owner side, etc.
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It is configured to work with Bitcoin Testnet as it is far from production.
You can view the source code in this Github repository.
Or download the Android APK and try it.
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Step 1 (Setup)
Owner gets public key from Heir, signs transaction to the escrow address and sends it to Heir along with her public key and blocks to lock on escrow.
Note that we lock in the escrow address only by blocks number but not time for now. Each block is approximately 10 min of time.
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Step 2 (Setup)
Heir gets public key, blocks number and signed transaction to save it in his wallet.
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Step 3 (Inheritance time)
When the inheritance time comes Heir broadcasts transaction so bitcoins are transferred to the escrow address.
Once transaction hits Bitcoin blockchain Heir can see it on the main screen
Note: If Heir would've been malicious or greedy and broadcasted the transaction Owner would've been able to see that her funds transferred to the escrow address
Step 4 (Inheritance time)
When lock period of escrow address expires, Heir is able to redeem bitcoins from it to some address under his control.
