Author: Matt Whitlock 2014-10-03 14:30:45
Published on: 2014-10-03T14:30:45+00:00
A proposal was made to implement arbitrary logic in the Bitcoin network using an opcode that replaces the top stack item with the block height of the transaction output being redeemed. This would allow complex logic to be implemented, such as output being unable to be spent until a certain time and output only being able to be spent until a certain time. The proposed OP_CHECKLOCKTIMEVERIFY was considered too limited for this purpose. A question was raised regarding whether the opcode could be used to build a script that can only be spent up until a specific block. It was suggested that a GET-TXIN-BLOCK-(TIME/HEIGHT)-EQUALVERIFY operator could be created instead. Incentivising mining centralisation with short maturities was discussed, with some suggesting destroying coins instead, but this was not seen as desirable by all.
Updated on: 2023-06-09T02:50:39.118231+00:00