locktime – Make signed transaction invalid after specified time

0
26


It isn’t potential to do exactly what you’re asking, however it’s potential to attain one thing related in precept.

Bitcoin doesn’t have a “invalid after block peak/block time” assemble that would forestall a transaction from being included if it’s not mined shortly.

Nevertheless, you can assemble an output that mirrors the identical circumstances.

Utilizing OP_CHECKLOCKTIMEVERIFY, you’ll be able to assemble an output that may be spent by the coordinator for till a selected block peak or time, and after that solely be spent by your self.

In concept, this might additionally meet your necessities with out mining the transaction – by offering a signed transaction to your coordinator that creates such an output, they may broadcast it together with a toddler transaction consuming that output.

Within the occasion that they don’t must train that bond, or the timelock has elapsed, then broadcasting it has no profit for them.

If the coordinator will not be a nicely behaving citizen, they may topic you to a griefing assault by broadcasting it even after the timelock has elapsed, costing you transaction charges. Nevertheless, you’ll nonetheless have the ability to retrieve the worth of the bond as they might now not have the ability to create a transaction to spend it.

LEAVE A REPLY

Please enter your comment!
Please enter your name here