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+ Today, in this Samhain week, time of the year when the two 'worlds' (material and spiritual) close together and better communicate, + we have the launch of this new Protocol to honour Bitcoin and all positivity it will bring to humanity.
+ +This project was originated to solve an existing problem: to leave bitcoin inheritance to one's own children, but in a decentralised manner, + without the intervention of an external third party (spouse, public notary, etc...) thus in perfect accordance with the Fundamental principle of decentralisation.
+ +We have created this protocol, (seeking inspiration from John Nash game theory 'dominant dynamics' on which bitcoin incentives are based) so that it can have + own life, without the need of a central Big Brother to make it work.
+ +It is an open-source code plug-in and a Will-Executor, taking in charge the inheritance transactions’ push, will stay active for at least the next 10 years + to await the consolidation of the protocol with more and more Will-Executors joining in.
+ +The economic incentive necessary to make all this possible, is a fee included in each inheritance transaction and is paid when the Will-Executor transmits + the inheritance transaction to the nodes, and it is therefore inserted in the block.
+ +We expect the BAL PROTOCOL to be successful thanks to the incentives included in the inheritance transactions. These incentives are substantial and increase + with the Bitcoin value in time and above all are appealing for more and more servers to join in the inheritance transactions with a prospective for middle / long period gains.
Today, in this Samhain week, time of the year when the two 'worlds' (material and spiritual) close together and better communicate, - we have the launch of this new Protocol to honour Bitcoin and all positivity it will bring to humanity.
+Anybody will have the possibility to create a server Will-Executor to contribute to the protocol and earn commissions, since the code is available as open-source.
-This project was originated to solve an existing problem: to leave bitcoin inheritance to one's own children, but in a decentralised manner, - without the intervention of an external third party (spouse, public notary, etc...) thus in perfect accordance with the Fundamental principle of decentralisation.
+BAL PROTOCOL, together with the Electrum plug-in, besides inheritance can also create a backup of one's own wallets, if planned in advance, to obtain protection in the case of private key loss.
-We have created this protocol, (seeking inspiration from John Nash game theory 'dominant dynamics' on which bitcoin incentives are based) so that it can have - own life, without the need of a central Big Brother to make it work.
+BAL PROTOCOL is also extremely useful when managing a multi-sig Wallet, in order to have a security option for exceptional cases.
-It is an open-source code plug-in and a Will-Executor, taking in charge the inheritance transactions’ push, will stay active for at least the next 10 years - to await the consolidation of the protocol with more and more Will-Executors joining in.
+Many are its potential applications, and we encourage the community to find many more others.
-The economic incentive necessary to make all this possible, is a fee included in each inheritance transaction and is paid when the Will-Executor transmits - the inheritance transaction to the nodes, and it is therefore inserted in the block.
+Our Electrum plug-in
-We expect the BAL PROTOCOL to be successful thanks to the incentives included in the inheritance transactions. These incentives are substantial and increase - with the Bitcoin value in time and above all are appealing for more and more servers to join in the inheritance transactions with a prospective for middle / long period gains.
-Anybody will have the possibility to create a server Will-Executor to contribute to the protocol and earn commissions, since the code is available as open-source.
+The B.A.L. plug-in has been created for Electrum wallet, considered the gold standard among bitcoin wallets. We hope one day that Electrum developers will understand + the value of this plug-in and will integrate it directly by default.
-BAL PROTOCOL, together with the Electrum plug-in, besides inheritance can also create a backup of one's own wallets, if planned in advance, to obtain protection in the case of private key loss.
+We know technology is useful when it is easily available to people in order to improve their lives; therefore BAL main objective will be + to improve and to simplify this interface
-BAL PROTOCOL is also extremely useful when managing a multi-sig Wallet, in order to have a security option for exceptional cases.
+All the work carried out to implement this project and BAL protocol (Bitcoin After Life) has been procured only with payments in Bitcoin with no use of + FIAT currencies.
-Many are its potential applications, and we encourage the community to find many more others.
+In the website bitcoin-after.life you will find instructions to install the plug-in in Electrum and several practical examples on how to manage heredity + with the Plug-in.
-Our Electrum plug-in
+Plugin Operations
-The B.A.L. plug-in has been created for Electrum wallet, considered the gold standard among bitcoin wallets. We hope one day that Electrum developers will understand - the value of this plug-in and will integrate it directly by default.
+The plugin generates a transaction with Locktime set to a future date; the transaction is signed and sent to one or several Will-Executors, + who will take care in retaining the transaction and send it at the expiry date.
-We know technology is useful when it is easily available to people in order to improve their lives; therefore BAL main objective will be - to improve and to simplify this interface
+In order to provide economic incentives for the Will-Executor to keep and broadcast the transaction, an output will contain a fee payment, + which will be received only when the heredity transaction is confirmed in the block chain.
-All the work carried out to implement this project and BAL protocol (Bitcoin After Life) has been procured only with payments in Bitcoin with no use of - FIAT currencies.
++
In the website bitcoin-after.life you will find instructions to install the plug-in in Electrum and several practical examples on how to manage heredity - with the Plug-in.
- -Plugin Operations
- -The plugin generates a transaction with Locktime set to a future date; the transaction is signed and sent to one or several Will-Executors, - who will take care in retaining the transaction and send it at the expiry date.
- -In order to provide economic incentives for the Will-Executor to keep and broadcast the transaction, an output will contain a fee payment, - which will be received only when the heredity transaction is confirmed in the block chain.
- -Signed
- -Svātantrya
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