Author: Tier Nolan 2014-04-25 19:37:53
Published on: 2014-04-25T19:37:53+00:00
On 25th April 2014, Luke-Jr commented on a BIP that he thought was entirely useless and could not be made secure. However, the hash locking in the BIP is not to prevent theft of coins but to release the coin on the other chain. The output can be spent automatically giving the other participant the password to take your coin on the other chain. The BIP allows the hash to protect any of other standard transactions except P2SH. The hash locking is required for the particular protocol.
Updated on: 2023-06-08T21:31:31.555645+00:00