Art Info

Bitcoin Lightning VOL1

One use of nLockTime is high frequency trades between a set of parties. They can keep updating a tx by unanimous agreement. The party giving money would be the first to sign the next version. If one party stops agreeing to changes, then the last state will be recorded at nLockTime. If desired, a default transaction can be prepared after each version so n-1 parties can push an unresponsive party out. Intermediate transactions do not need to be broadcast. Only the final outcome gets recorded by the network. Just before nLockTime, the parties and a few witness nodes broadcast the highest sequence tx they saw.

– Satoshi

  • NAME:

    The Key Of The Future

  • DATE:

    July 28, 2020

  • TAGS:

    Politics / Vintage



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