Cortez using Spending Limit Contract

Research and Development
1

Have a look at our the new Nomadic Labs blog post regarding the proposed spending limit contract by Cortez.

https://blog.nomadic-labs.com/cortez-security-by-using-the-spending-limit-contract.html

You can test this way of using tez via the Cortez wallet for Alphanet:

  1. Create a new wallet and send it some ꜩ (on the alphanet test network).
  2. Create a Daily Spending Limit Contract and add a few ꜩ from your main account to it.
  3. Go to “Key Management” then remove the master key.

You cannot spend tez from your main account (tz1…) anymore because the master key was removed from your phone. However, you can still spend ꜩ from the newly created Daily Spending Limit contract (KT1…).

If you want to amend the contract’s storage, go to “Key Management” and restore the master key by entering the associated 24-word mnemonic. This way, you will also be able to transfer from your main account (your tz1). Don’t forget to remove the master key to maximise security.

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