Contract project

Install dependencies with npm: npm install

Compile: truffle compile

Run tests: truffle test

Bitcoin Vault

Bitcoin Vault (BTCV) is a cryptocurrency allowing users to Cancel transactions, send Secure payments, as well as bypass the safety features and send Fast Secure transactions. Bitcoin Vault allows users to reverse transactions within 24 hours (144 blocks) using Cancel Private Key. If your local wallet's security is compromised, you can cancel the fraudulent money transfer and protect your assets.

Wrapped BTCV

Wrapped Bitcoin Vault (wBTCV) is a tokenised form of BTCV cryptocurrency to use with Binance Smart Chain ecosystem. Contract allows standard ERC20/BEP20 operations plus secure (reversable in 24 hours) transfers.

Secure transaction

Setting account for Secure Transfer sending

For specific account, call setNewRecoveringAddress(<new recovering address>)
Public state variable pendingRecoveringAddressChange[<address>] indicates pending recovering address' change (s)
Wait 28800 block on BSC network (~24 hours)
Call confirmNewRecoveringAddress (<new recovering address>)
From now on, until recovering address for specific address is deleted, transfers will be sent as Secure Transfers

Sending Secure Transfer

Set account for Secure Transfer sending (see above)
Call transfer(<recipient>, <amount>) (ERC20/BEP20) function
getIncomingAlerts(<recipient>) function indicates all incoming Secure Transfer alerts
getReadyAlerts(<recipient>) function indicates incoming Secure Transfer alerts that are ready for redeeming
Wait 28800 block on BSC network (~24 hours)
Call redeemReadyAlerts(<recipient>) to redeem all ready alerts for recipient address

Cancelling Secure Transfer

Send Secure Transfer (see above)
Before Secure Transfer is redeemed, call cancelTransfers(<recipient>) from recovering account
All Secure Transfers from sender to recipient address that were not redeemed will be cancelled

Setting Secure Transfer account to standard account

Call deleteRecoveringAddress()
Public state variable pendingRecoveringAddressChange[<address>] indicates pending recovering address' change (s)
Wait 28800 block on BSC network (~24 hours)
Call confirmDeleteRecoveringAddress()
Recovering address for sender will be deleted and transfer function will now perform standard (immediate) transfers

Deployment

wBTCV system consists of two contracts: wBTCV BEP-20 token contract and an example Controller contract, which takes as arguments token contract address and list of signers. In example Controller implementation it is not possible to change signers or controlled token contract address, but another Controller may be deployed and ownerhip of token may be transferred. After both contracts are deployed, token contract ownership shall be transfered from deploying address to controller contract (or from one controller to another in case controller is being updated).

Ownership transfer from deploying account to Controller in truffle suite:

> wbtcv = await WBTCV.deployed()
undefined
> wbtcv.address
<token addr>
> controller = await WbtcvController.new(<token addr>, [<signer1>, <signer2>, <signer3>])
undefined
> controller.ownedContract()
<token addr>
> controller.address
<controller addr>
> await wbtcv.transferOwnership(<controller addr>)
<tx receipt>>

Transfer ownership to updated controller:

> controller2 = await WbtcvController2.new(<token contract addr>, [accounts[0], accounts[1], accounts[2]])
undefined
> controller2.address
<controller2 address>
> await controller.transferOwnership(<controller2 address>, {from: <signer1>})
<tx receipt>
> await controller.signTransferOwnership(<controller2 address>, {from: <signer2>})
<tx receipt>

Note: It is expected that initially wBTCV token contract would be owned by EOA, not the Controller contract (no Controller contract is expected to be deployed for now).

bitcoinvault/bitcoin-vault-token-smart-contracts