Author: Jeremy 2020-09-03 17:34:15
Published on: 2020-09-03T17:34:15+00:00
On September 3, 2020, Dmitry Petukhov proposed an idea for an "inverse timelock" that could be made almost-certainly automatic. This would involve a revocation UTXO becoming anyone-can-spend after a timeout and bearing some non-dust amount. Before the timelock expiration, it would only be spendable along with the covenant-locked 'main' UTXO via a signature or mutual covenant. After the timeout expires, a multitude of entities would be incentivized to spend this UTXO because it would be free money for them. It would likely be spent by a miner who could replace the spending transaction with their own and claim the amount. Once the revocation UTXO is spent, the covenant path that commits to having it in the inputs would become unspendable, effectively constituting an "inverse timelock. "However, CTV does not enable this because it does not commit to the inputs. Otherwise, there would be a hash cycle for predicting the output's TXID.
Updated on: 2023-06-13T22:30:26.877328+00:00