A BIP proposal for transactions that are 'cancellable'



Summary:

A proposal to extend OP_CSV and/or OP_CLTV in order to allow and interpret negative values has been put forward. The proposal suggests using negative bit value to give both parties ownership for the first 24 hours and then only Bob would own such coins. This implementation should not be too difficult, and can increase the fairness of users. The proposal argues that it can be more cost-effective for users rather than trying a Replace-By-Fee transaction if they want to modify such payment. The authors are preparing the text for the BIP and have attached their paper discussing it.


Updated on: 2023-06-13T14:49:45.963669+00:00