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nadams 2017-04-24 13:36:47 -07:00
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@ -366,7 +366,7 @@ The timestamps set in block headers are set by the miners. There is a certain de
To remove the incentive to lie and strengthen the security of timelocks, a Bitcoin Improvement Proposal was proposed and activated at the same time as the BIPs for relative timelocks. This is BIP-113, which defines a new consensus measurement of time called _Median Time Past_.
Median-Time-Past is calculated by taking the timestamps of the last 11 blocks and finding the median. That median time then becomes consensus time and it is used for all timelock calculations. By taking the midpoint from approximately two hours in the past, the influence of any one block's timestamp is reduced. By incorporating 11 blocks, no single miner can influence the timestamps in such a way as to gain fees from transactions with a time lock that hasn't yet matured.
Median-Time-Past is calculated by taking the timestamps of the last 11 blocks and finding the median. That median time then becomes consensus time and it is used for all timelock calculations. By taking the midpoint from approximately two hours in the past, the influence of any one block's timestamp is reduced. By incorporating 11 blocks, no single miner can influence the timestamps in such a way as to gain fees from transactions with a timelock that hasn't yet matured.
Median-Time-Past changes the implementation of time calculations for +nLocktime+, +CLTV+, +nSequence+, and +CSV+. The consensus time calculated by Median-Time-Past is always approximately one hour behind wall clock time. If you create timelock transactions, you should account for it when estimating the desired value to encode in +nLocktime+, +nSequence+, +CLTV+, and +CSV+.