About the Protocol
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.
Key Features
Decentralized Inheritance
Plan Bitcoin inheritance without involving any third party (notary, spouse, custodian). Fully peer-to-peer, in perfect accordance with Bitcoin's core principle of decentralisation. No legal overhead, no intermediaries — ever.
Time-Locked Transactions
Transactions are created with Locktime set to a future date. Will-Executors retain and broadcast them automatically at the specified delivery date. Your keys never leave your device — Electrum handles all signing.
Wallet Backup
Pre-sign a recovery transaction to a secondary address. If you lose your seed, funds are automatically sent to your backup wallet.
Economic Incentives
Each inheritance transaction includes a fee for the Will-Executor, paid on confirmation. Incentives grow with Bitcoin's value over time.
Open Source & Community
Anyone can run a Will-Executor server and earn commissions. The community is encouraged to find new use cases.
View Source Code →How It Works
Six steps — from first setup to automatic execution of your Bitcoin will.
Note on signing: The plugin never signs on your behalf. If your wallet uses a password or a hardware wallet, you will be prompted to confirm. The plugin asks — you decide. Your will stays accurate, always under your control.
Will-Executors
The economic incentive necessary to make all this possible is a fee included in each inheritance transaction. It is paid when the Will-Executor transmits the inheritance transaction to the nodes, and 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.
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.
Electrum Plugin
Bitcoin After Life Plugin
The B.A.L. plug-in has been created for Electrum wallet, considered the gold standard among Bitcoin wallets. We hope one day Electrum developers will integrate it directly by default.
View Plugin Repository →BAL Server
The server component acts as a Will-Executor: it retains signed transactions and broadcasts them at the specified expiry date, ensuring the inheritance process runs without human intervention.
View Server Repository →Documentation & Examples
On 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.
View Website →Plugin Operations
How it works
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.
We know technology is useful when it is easily available to people in order to improve their lives; therefore BAL's main objective will be to improve and to simplify this interface over time.
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.
Frequently Asked Questions
- Miner fee: chosen by the user at the time of signing. A higher fee is recommended to ensure future confirmation.
- Will-Executor fee: deducted directly from the inheritance at the moment of execution, when the Will-Executor broadcasts the transaction to the network.
- Delivery time: the future date on which the Will-Executor will broadcast the transaction.
- Check Alive period: how often Electrum should ask you if you want to postpone the delivery date (see Q10).
The Check Alive is a parameter that defines the period of inactivity after which the BAL plugin — installed inside Electrum — will ask you whether you want to postpone your inheritance delivery date.
Example: suppose you set an inheritance date 2 years from today, with a Check Alive period of 6 months. If you open Electrum after 7 months (i.e. more than 6 months since the last postponement), the plugin will prompt you: your original delivery date is now only 1 year and 5 months away, and since you are still alive and active, you will likely want to push it back to 2 years from today again — so the plugin asks whether to postpone by another 6 months.
This mechanism ensures your will is never executed as long as you keep using Electrum within the Check Alive window. If you stop opening Electrum before the delivery date is reached, the Will-Executors will broadcast the inheritance automatically.