Episode 71: Timelocks
Ep. 71

Episode 71: Timelocks

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Episode description

In this episode of Bitcoin, Explained, Aaron and Sjors discuss the different types of timelocks available on Bitcoin (and what can go wrong when used incorrectly).

Chapters

00:00:00 Listener boosts and Podcasting 2.0
00:01:55 What are Bitcoin timelocks?
00:03:56 nLockTime: from relay policy to consensus
00:06:41 Recovery and inheritance with presigned transactions
00:08:32 CheckLockTimeVerify: locking coins on-chain
00:13:37 CheckSequenceVerify and relative timelocks
00:18:26 Encoding time and block height
00:21:51 Why Lightning needs relative timelocks
00:24:31 The danger of mixing time and height constraints
00:28:51 nLockTime and fee sniping

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Sjors New Book: Bitcoin: A Work In Progress

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0:00Listener boosts and Podcasting 2.0
1:55What are Bitcoin timelocks?
3:56nLockTime: from relay policy to consensus
6:41Recovery and inheritance with presigned transactions
8:32CheckLockTimeVerify: locking coins on-chain
13:37CheckSequenceVerify and relative timelocks
18:26Encoding time and block height
21:51Why Lightning needs relative timelocks
24:31The danger of mixing time and height constraints
28:51nLockTime and fee sniping