Author: Russell O'Connor 2021-04-09 11:39:45
Published on: 2021-04-09T11:39:45+00:00
A user on the Bitcoin development mailing list asked if there is a way to specify a maximum block height for a transaction. However, it was pointed out that this feature would have the same problem as the OP_BLOCKNUMBER transaction, which becomes invalid in the event of a blockchain reorganization. Instead, nTimeLock is suggested as an alternative option. It is an open transaction that can be replaced with new versions until the deadline, and the highest version at the deadline is recorded. This feature could be used for escrow transactions that will automatically lock and go through unless revoked before the deadline. While this feature is not enabled or used yet, the support is available for its implementation later.
Updated on: 2023-06-14T20:02:41.279353+00:00