Author: Tier Nolan 2015-08-25 22:36:23
Published on: 2015-08-25T22:36:23+00:00
In an email discussion on the Bitcoin-dev mailing list, Mark Friedenbach has proposed a maximum of one-year relative lock-times for use in blockchain transactions. He is having trouble envisaging a use case that would require more than a year of lock-time. Relative locktime has advantages over absolute locktime when it's not possible to determine when the clock should start, which makes it inherently lower delays. One way to get around this is by chaining transactions and extending the relative locktime. This process could be built up with multi-sig, like the refund transaction system, to ensure that no single person can create an alternative chain.
Updated on: 2023-06-10T19:19:36.340743+00:00