From d898ca49de469a5e8d7fc3a6be0cd9d988ef43b1 Mon Sep 17 00:00:00 2001 From: "judymcconville@roadrunner.com" Date: Mon, 1 May 2017 10:54:09 -0700 Subject: [PATCH] Edited ch07.asciidoc with Atlas code editor --- ch07.asciidoc | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/ch07.asciidoc b/ch07.asciidoc index 1b8847c1..b87cf115 100644 --- a/ch07.asciidoc +++ b/ch07.asciidoc @@ -222,7 +222,7 @@ Two new command-line options have been added in Bitcoin Core as of version 0.10. === Timelocks -((("transactions", "advanced", "timelocks")))Timelocks are restrictions on transactions or outputs that only allow spending after a point in time. Bitcoin has had a transaction-level timelock feature from the beginning. It is implemented by the +nLocktime+ field in a transaction. Two new timelock features were introduced in late 2015 and mid-2016 that offer UTXO-level timelocks. These are +CHECKLOCKTIMEVERIFY+ and +CHECKSEQUENCEVERIFY+. +((("transactions", "advanced", "timelocks")))((("scripting", "timelocks", id="Stimelock07")))Timelocks are restrictions on transactions or outputs that only allow spending after a point in time. Bitcoin has had a transaction-level timelock feature from the beginning. It is implemented by the +nLocktime+ field in a transaction. Two new timelock features were introduced in late 2015 and mid-2016 that offer UTXO-level timelocks. These are +CHECKLOCKTIMEVERIFY+ and +CHECKSEQUENCEVERIFY+. Timelocks are useful for post-dating transactions and locking funds to a date in the future. More importantly, timelocks extend bitcoin scripting into the dimension of time, opening the door for complex multistep smart contracts. @@ -385,7 +385,7 @@ To prevent "fee sniping," when Bitcoin Core creates transactions, it uses +nLock But under a blockchain fork attack, the miners would not be able to pull high-fee transactions from the mempool, because all those transactions would be timelocked to block #100,001. They can only re-mine #100,000 with whatever transactions were valid at that time, essentially gaining no new fees. -To achieve this, Bitcoin Core sets the +nLocktime+ on all new transactions to and sets the +nSequence+ on all the inputs to 0xFFFFFFFE, to enable +nLocktime+. +To achieve this, Bitcoin Core sets the +nLocktime+ on all new transactions to and sets the +nSequence+ on all the inputs to 0xFFFFFFFE, to enable +nLocktime+.((("", startref="Stimelock07"))) === Scripts with Flow Control (Conditional Clauses)