From f771798d82742b6581b1634ac243d4671a030b3f Mon Sep 17 00:00:00 2001 From: "judymcconville@roadrunner.com" Date: Mon, 1 May 2017 11:01:02 -0700 Subject: [PATCH] Edited ch07.asciidoc with Atlas code editor --- ch07.asciidoc | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/ch07.asciidoc b/ch07.asciidoc index 51e0a63a..34dad853 100644 --- a/ch07.asciidoc +++ b/ch07.asciidoc @@ -250,7 +250,7 @@ It is important to understand the limitations of transaction +nLocktime+. The on ==== Check Lock Time Verify (CLTV) -((("Check Lock Time Verify (CLTV)", id="cltv07")))In December 2015, a new form of timelock was introduced to bitcoin as a soft-fork upgrade. Based on a specification in Bitcoin Improvement Proposal 65 (BIP-65), a new script operator _CHECKLOCKTIMEVERIFY_ (known also as _CLTV_) was added to the scripting language. +CLTV+ is a per-output timelock, rather than a per-transaction timelock as is the case with +nLocktime+. This allows for much greater flexibility in the way timelocks are applied. +((("Check Lock Time Verify (CLTV)", id="cltv07")))((("timelocks", "Check Lock Time Verify (CLTV)")))((("scripting", "timelocks", "Check Lock Time Verify (CLTV)")))In December 2015, a new form of timelock was introduced to bitcoin as a soft-fork upgrade. Based on a specification in Bitcoin Improvement Proposal 65 (BIP-65), a new script operator _CHECKLOCKTIMEVERIFY_ (known also as _CLTV_) was added to the scripting language. +CLTV+ is a per-output timelock, rather than a per-transaction timelock as is the case with +nLocktime+. This allows for much greater flexibility in the way timelocks are applied. In simple terms, by adding the +CLTV+ opcode in the redeem script of an output it restricts the output, so that it can only be spent after the specified time has elapsed.