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author | Peter Todd <pete@petertodd.org> | 2015-11-13 12:24:27 -0500 |
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committer | Peter Todd <pete@petertodd.org> | 2015-11-13 12:33:49 -0500 |
commit | 5d0ae1caa36b3550af695c1b75082a1436f4215e (patch) | |
tree | dab0ca4f6d34e318c3022b000383d4270e14b691 /bip-0065.mediawiki | |
parent | c912e616d383d3ebae9d3a2932d5fd193978ff9d (diff) | |
download | bips-5d0ae1caa36b3550af695c1b75082a1436f4215e.tar.xz |
Reword motivation section
Previous wording was very confusing now that most people will associate
payment channels with CLTV-based payment channels rather than Jeremy
Spilman style payment channels.
Diffstat (limited to 'bip-0065.mediawiki')
-rw-r--r-- | bip-0065.mediawiki | 20 |
1 files changed, 8 insertions, 12 deletions
diff --git a/bip-0065.mediawiki b/bip-0065.mediawiki index 6163b90..b48fa75 100644 --- a/bip-0065.mediawiki +++ b/bip-0065.mediawiki @@ -32,18 +32,14 @@ remains unspendable. ==Motivation== -The nLockTime field in transactions makes it possible to prove that a -transaction output can be spent in the future: a valid signature for a -transaction with the desired nLockTime can be constructed, proving that it is -possible to spend the output with that signature when the nLockTime is reached. -An example where this technique is used is in payment channels, where the -nLockTime field proves that should the receiver vanish the sender is guaranteed -to get all their escrowed funds back when the nLockTime is reached. - -However, the nLockTime field is insufficient if you wish to prove that a -transaction output ''cannot'' be spent until some time in the future, as there -is no way to prove that the secret keys corresponding to the pubkeys controlling -the funds have not been used to create a valid signature. +The nLockTime field in transactions can be used to prove that it is +''possible'' to spend a transaction output in the future, by constructing a +valid transaction spending that output with the nLockTime field set. + +However, the nLockTime field can't prove that it is ''impossible'' to spend a +transaction output until some time in the future, as there is no way to know if +a valid signature for a different transaction spending that output has been +created. ===Escrow=== |