RFC 12: Decentralized wallet coordination

[lukasz-zimnoch]

Refs: #737

The currently used wallet coordination mechanism based on the WalletCoordinator smart contract and authorized maintainers turned out to be a single point of failure of the tBTC v2 system. This RFC aims to provide an alternative approach.

[pdyraga]

Excellent proposal. Left some small suggestions/questions.

[lukasz-zimnoch]

@pdyraga I'm also curious about your thoughts regarding the Future work section and the observability concern raised in Limitations.

[pdyraga]

@pdyraga I'm also curious about your thoughts regarding the Future work section and the observability concern raised in Limitations.

I am not particularly concerned about the limitations or future work listed in the RFC.

Starting with the limitations and potential increase in CPU consumption and network traffic, this should only affect the leader and happen before the signing is triggered. It is not a huge concern on my end, especially since we plan to replace the signing algorithm the next year. I do not think idleness is a problem. All wallet members are equally incentivized to do their leader duty and to participate in signing. For the poor observability, I am struggling to decide if this is a problem or a feature. For the security of the system, I think the internal communication inside the wallet should stay in the secured channel used by the wallet.

For the future work, I agree with all the points but I don't think they are pressing. The SPV relay is just relaying information, it shouldn't be a big deal to add more SPV relayers and we could even make this a responsibility of the leader in the future.

[pdyraga]

I'll hold on with merging for some time to give a chance for others to chime in.