NLockTime: Difference between revisions
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Updated the page to reflect the actual consensus meaning of the `nLockTime` field. |
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'''nLockTime''' is a parameter of a transaction, that, if any input indicates so (by having nSequence not equal to UINT_MAX), mandates a minimal time (specified in either unix time or block height), before which the transaction cannot be accepted into a block. If all inputs in a transaction have nSequence equal to UINT_MAX, then nLockTime is ignored. | '''nLockTime''' is a parameter of a transaction, that, if any input indicates so (by having nSequence not equal to UINT_MAX), mandates a minimal time (specified in either unix time or block height), before which the transaction cannot be accepted into a block. If all inputs in a transaction have nSequence equal to UINT_MAX, then nLockTime is ignored. | ||
Since [https://github.com/bitcoin/bips/blob/master/bip-0068.mediawiki BIP68], a new meaning has been given to the '''nLockTime''' and '''nSequence''' fields. Given a transaction, | |||
* If the most significant bit (1<<31) is set | |||
** If the 23rd bit (1<<22) is set | |||
*** Specifies a time in units of 512 seconds. The transaction can only be included in a block if <code>block_time > nLockTime * 512</code>. | |||
** Otherwise | |||
*** Specifies a block height before which the transaction can not be included in a block. | |||
* Otherwise | |||
** the transaction can be included in any block | |||
==See Also== | ==See Also== | ||
* lock_time in [[Protocol_specification#tx|the protocol specification]] | * lock_time in [[Protocol_specification#tx|the protocol specification]] | ||
* [[Timelock]] | * [[Timelock]] | ||
* [https://github.com/bitcoin/bips/blob/master/bip-0068.mediawiki BIP68] | |||
* The CHECKLOCKTIMEVERIFY opcode in [https://github.com/bitcoin/bips/blob/master/bip-0065.mediawiki BIP65] | |||
* The CHECKSEQUENCEVERIFY opcode in [https://github.com/bitcoin/bips/blob/master/bip-00112.mediawiki BIP112] | |||
[[Category:Technical]] | [[Category:Technical]] | ||
{{lowercase}} | {{lowercase}} | ||
Revision as of 11:47, 23 September 2019
This page is a stub. Help by expanding it.
nLockTime is a parameter of a transaction, that, if any input indicates so (by having nSequence not equal to UINT_MAX), mandates a minimal time (specified in either unix time or block height), before which the transaction cannot be accepted into a block. If all inputs in a transaction have nSequence equal to UINT_MAX, then nLockTime is ignored.
Since BIP68, a new meaning has been given to the nLockTime and nSequence fields. Given a transaction,
- If the most significant bit (1<<31) is set
- If the 23rd bit (1<<22) is set
- Specifies a time in units of 512 seconds. The transaction can only be included in a block if
block_time > nLockTime * 512.
- Specifies a time in units of 512 seconds. The transaction can only be included in a block if
- Otherwise
- Specifies a block height before which the transaction can not be included in a block.
- If the 23rd bit (1<<22) is set
- Otherwise
- the transaction can be included in any block
See Also
- lock_time in the protocol specification
- Timelock
- BIP68
- The CHECKLOCKTIMEVERIFY opcode in BIP65
- The CHECKSEQUENCEVERIFY opcode in BIP112