arno/bitcoinbook
1
0
Fork 0
mirror of https://github.com/bitcoinbook/bitcoinbook synced 2024-11-26 01:50:42 +00:00
Code Issues Releases Wiki Activity

Merge pull request #548 from asymmetric/patch-1

Browse Source 
Remove "short" from timelock sentence
This commit is contained in:
Will Binns 2019-05-08 20:52:18 +00:00 committed by GitHub
commit 9acd7a6dd8
No known key found for this signature in database
GPG Key ID: 4AEE18F83AFDEB23
1 changed files with 1 additions and 1 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

2
ch12.asciidoc
View File

@ -360,7 +360,7 @@ Output 1:
<Irene's Public Key> CHECKSIG
----
This way, each party has a commitment transaction, spending the 2-of-2 funding output. This input is signed by the _other_ party. At any time the party holding the transaction can also sign (completing the 2-of-2) and broadcast. However, if they broadcast the commitment transaction, it pays the other party immediately whereas they have to wait for a short timelock to expire. By imposing a delay on the redemption of one of the outputs, we put each party at a slight disadvantage when they choose to unilaterally broadcast a commitment transaction. But a time delay alone isn't enough to encourage fair conduct.
This way, each party has a commitment transaction, spending the 2-of-2 funding output. This input is signed by the _other_ party. At any time the party holding the transaction can also sign (completing the 2-of-2) and broadcast. However, if they broadcast the commitment transaction, it pays the other party immediately whereas they have to wait for a timelock to expire. By imposing a delay on the redemption of one of the outputs, we put each party at a slight disadvantage when they choose to unilaterally broadcast a commitment transaction. But a time delay alone isn't enough to encourage fair conduct.
<<asymmetric_commitments>> shows two asymmetric commitment transactions, where the output paying the holder of the commitment is delayed.