In response to solving the several vulnerabilities in the bitcoin protocol, Kevin Loaec, the CEO and Co-founder of Wizard Sardine announced at the Bitcoin 2023 Miami event that the company was launching a new product called Liana.
Liana is a desktop Bitcoin wallet that is different from the regular wallet in the market. The CEO revealed that the wallet is designed with a strong focus on safety to prevent users from losing their coins.
“If you’ve been in Bitcoin for a while, you probably know that” losing coins is the biggest risk in the industry. It is to an extent more serious than Bitcoin theft.
One of the features of Liana as mentioned by the CEO is the use of Miniscript. Miniscript is a new scripting language for Bitcoin that aims to make it easier to create and use complex spending conditions. It is a more concise and expressive language than Bitcoin Script, and it allows for more efficient and secure spending.
Some of the benefits of Miniscript include:
- Conciseness: Miniscript makes it easier to write and understand
- Expressiveness: Miniscript can be used to create more complex spending conditions
- Efficiency: Miniscript is more efficient than Bitcoin Script making it faster and cheaper to spend Bitcoin
- Security: Miniscript is more secure than Bitcoin Script, preventing hacks or stealing of Bitcoin.
Another feature mentioned by Kevin is the on-chain lock. It allows users to “have different keys that become valid at a different point in time but still all handled by the Bitcoin blockchain itself” and not by third-party functionality. The wallet also has different recovery rates over time.
Liana solves Bitcoin inheritance problem
Kevin revealed to the audience that the problem surrounding the inheritance of digital assets especially crypto like bitcoin is also solved in the wallet. With Liana, users can add the keys of their ‘’family or beneficiaries, who will only be able to access the coins after the user passes away. This access restriction is enforced on the Bitcoin layer.”
The owner of the bitcoin can keep using their coins but if they don’t do so after a specific period of time, “your family will be able to recover your coins.” Corporations can implement a similar system for their bitcoins, which requires two or more employees to sign a contract.
Why Wizard Sardine
Kevin said that the company is a Bitcoin security firm that is focused on disclosing vulnerabilities and related to the Bitcoin protocol. He cited examples of some of their projects such as the Revault protocol, “the first practical Bitcoin Vault infrastructure” that allows institutions to create restrictions on how they carry out Bitcoin transactions.
Another breakthrough he mentioned was the discovery of a fault in a BTC-based server last year which resulted in Wizard Sardine being awarded a huge bounty. The Ledger Hardware wallet discrepancy was also discovered by the Wizard Sardine team.