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Author Topic: Implementation of contracts and nLockTime  (Read 499 times)
mjb
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April 09, 2013, 10:43:50 PM
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Are there any real-world (or experimental) implementations of Bitcoin contracts that make use of the nLockTime field, as outlined in https://en.bitcoin.it/wiki/Contracts ?

As of four months ago, there did not seem to be any, although the discussion in this thread was very valuable: https://bitcointalk.org/index.php?topic=131443.0

And, finally, do I understand the following correctly:
Transactions with an nLockTime set (far) into the future might get dropped from the memory pool of all Bitcoin network nodes, which means that it is insufficient to rely solely on the Bitcoin network for persistence of locked transactions and you have to refresh the transaction from time to time from outside the Bitcoin network?
Can anyone speculate on what would be the average lifetime of a locked transaction under current circumstances in the network?


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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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gmaxwell
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April 10, 2013, 09:37:17 AM
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There has been some experimentation with them— but not contract usage. Due to some attack usage we actually will not relay (or mempool) locked transactions at all right now.

Bitcoin will not be compromised
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