From 9930f39c28158207945da1faaadce6b5aa2bc05f Mon Sep 17 00:00:00 2001 From: Shannon Appelcline Date: Tue, 23 May 2017 16:03:08 -0700 Subject: [PATCH] Create 9_1_Understanding_Timelock_Options.md --- 9_1_Understanding_Timelock_Options.md | 28 +++++++++++++++++++++++++++ 1 file changed, 28 insertions(+) create mode 100644 9_1_Understanding_Timelock_Options.md diff --git a/9_1_Understanding_Timelock_Options.md b/9_1_Understanding_Timelock_Options.md new file mode 100644 index 0000000..db57f46 --- /dev/null +++ b/9_1_Understanding_Timelock_Options.md @@ -0,0 +1,28 @@ +# 9.1: Understanding Timelock Options + +> **NOTE:** This is a draft in progress, so that I can get some feedback from early reviewers. It is not yet ready for learning. + +In [§6.4: Sending a Transaction with a Locktime](6_4_Sending_a_Transaction_with_a_Locktime.md), `nLocktime` provided a great basis for locking transactions so that they couldn't be spent until some point in the future — based either on time or blockheight. But, that's not the only way to put a timelock on a transaction. + +## Understand the Limitations of nLockTime + +1. [whole transaction] +2. [can't even be put on network] + +## Understand the Possibilities of Timelock Scripts + +[a script locks a single output] +[can be used for as part of more complex redemption conditions] +- largely depend on conditionals in next chapter + +here's a catch: [can't be negative; make available in the future, but not the converse] + +### CLTV + +[like nLockTime, but for a single output] + +### CSV + +[relative time] + +## Summary: Understanding Timelock Options