[BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time



Summary:

In an email conversation on October 9, 2014, Peter Todd asked for an example of a complex transaction use-case that is affected by malleability and cannot be fixed by CHECKLOCKTIMEVERIFY. In response, another person suggested an example involving a kickstarter-escrow where two parties put 5 BTC each to pay Alice and an oracle who decides if Alice did her job. If a timeout expires before Alice gets the sign off, the funds must be returned to their original payers. This can be done with a pre-signed refund, but if there are multiple outputs or refunds, an atomic reversal cannot be guaranteed.


Updated on: 2023-05-19T19:19:42.555174+00:00