April 14, 2020 Bitcoin developer releases Vaults prototype.

Bryan Bishop, a Bitcoin developer has released a prototype via the Bitcoin Core mailing list for the integration of Vaults atop the Bitcoin network. Unlike previous similar proposals, the new design would not require the Bitcoin network to undergo a hardfork. The vault’s design uses a combination of shards and watchtowers to protect users in the event they lose their private keys or seed phrases. Since the software is still a prototype it is not suitable for usage by regular users and there is currently no proposed timeline for a full production-ready release. According to Bishop, the change would be more secure if the Bitcoin Improvement Proposal, BIP 119 was activated first.