Cryptocurrency Q&A
What is the lock time in a Bitcoin transaction?
What is the lock time in a Bitcoin transaction?
GalaxyGlider
Wed Dec 18 2024
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I'm curious about the lock time feature in Bitcoin transactions. Specifically, I want to understand what it means and how it functions within a transaction. Can someone explain the concept of lock time to me?
5 answers
HanbokGlamour
Fri Dec 20 2024
It is represented by a specific field in the transaction data structure, playing a vital role in determining the validity of a transaction.
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ethan_carter_engineer
Fri Dec 20 2024
This setting defines the earliest point in time when a transaction can be considered valid and thus, eligible for relay on the network.
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isabella_oliver_musician
Fri Dec 20 2024
In simpler terms, locktime acts as a timestamp that restricts a transaction from being processed until the designated time has been reached.
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Alessandra
Fri Dec 20 2024
Additionally, locktime is often referred to as nLocktime, derived from the variable name utilized within the Bitcoin Core codebase. This term signifies its integral role in the Bitcoin network.
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CryptoGladiatorGuard
Fri Dec 20 2024
Transaction locktime serves as a crucial transaction-level setting within the realm of blockchain technology.
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