Author: Peter Todd 2015-05-27 10:58:05
Published on: 2015-05-27T10:58:05+00:00
In a discussion between Peter Todd and Gregory Maxwell, they discuss the functional difference between relative nLockTime and decreasing absolute nLockTime in terms of payment channels. They both agree that a payment channel can be set up using a transaction with decreasing absolute nLockTime, where both parties are guaranteed to get their funds back. Todd suggests that he can give funds to Maxwell by signing his part of a transaction and Maxwell can do the same for Todd. They can close the channel by signing a non-nLockTime'd transaction at any time. Todd questions how relative nLockTime provided by nSequence fundamentally changes this process.
Updated on: 2023-06-09T21:40:02.135791+00:00