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Time lock
LockSats the owner cannot move until a chosen block height.
What it is
A time lock is a contract that checks the spending transaction's lock time against a block height written into the output. Until the chain reaches that height, no transaction can spend it, not even the owner's. After that, the owner spends it with a signature.
Script pattern
-
<contract prefix>Fixed contract code that reads the spending transaction. -
<owner pubkey hash>20 bytes: who may spend after the lock ends. -
<block height>The height the chain must reach first. -
<contract suffix>More fixed contract code.
How it is spent
The owner's signature, in a transaction the chain accepts only once the block height is reached.
Background
Locking coins to show commitment, for example to back a post or a vote, became popular on BSV in 2023. This contract ships in @1sat/templates.
On chain
- 69e68026a2008d418fd9cc9c843495d30203409a25ef128b98132e4f2a613581 block 957,665
- e1c99d7e53cc7135317a5211fb88c2f83ef4aa5530c64e4d8b37a37839673882 block 957,665
- 8cc9bd7d27c1cfc2cc25c9837ca4209de528257bbccedf1b8b3d70a9e774c086 block 957,664
- 5274b2cafdbc63b329c07ac8bd6f1aa47dac2ce17e9d358c378ade16e7f5d1d1 block 957,663
- c91cc815cb59e55cc837434cf1faf58c33bae4a1b22914616f2a77a1a2718aaf block 957,661
Transactions with an output of exactly this script shape, by template hash 6c0d4d6b4e7a… Transaction pages need sign-in.
Specification
- @1sat/templates
- /api/v1/types/timelock
- /api/v1/txs?type=timelock every stored tx of this type, newest first, with an API key or signed in.