NLockTime: Difference between revisions
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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], the lock time can either be absolute or relative. Given a transaction, | |||
* If the most significant bit (<code>1<<31</code>) of the '''nLockTime''' field is set (if the lock time is absolute) | |||
** If <code>nLockTime < 500000000</code> | |||
*** Specifies the block number at which this transaction can be spent | |||
** Otherwise | |||
*** Specifies the UNIX timestamp at which this transaction can be spent | |||
* Otherwise (if the lock time is relative) | |||
** If the 23rd bit (<code>1<<22</code>) is not set | |||
*** The last 16 bits of the '''nLockTime''' field specify a relative time in units of 512 seconds. The transaction can only be included in a block if <code>spending_tx_block_time > spent_tx_block_time + nLockTime * 512</code>. | |||
** Otherwise | |||
*** The last 16 bits of the '''nLockTime''' field specify a relative block height before which the transaction can not be included in a block. In other words it can be included if <code>spending_tx_block_height > spent_tx_block_height + nLockTime</code> | |||
==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 13:00, 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, the lock time can either be absolute or relative. Given a transaction,
- If the most significant bit (
1<<31) of the nLockTime field is set (if the lock time is absolute)- If
nLockTime < 500000000- Specifies the block number at which this transaction can be spent
- Otherwise
- Specifies the UNIX timestamp at which this transaction can be spent
- If
- Otherwise (if the lock time is relative)
- If the 23rd bit (
1<<22) is not set- The last 16 bits of the nLockTime field specify a relative time in units of 512 seconds. The transaction can only be included in a block if
spending_tx_block_time > spent_tx_block_time + nLockTime * 512.
- The last 16 bits of the nLockTime field specify a relative time in units of 512 seconds. The transaction can only be included in a block if
- Otherwise
- The last 16 bits of the nLockTime field specify a relative block height before which the transaction can not be included in a block. In other words it can be included if
spending_tx_block_height > spent_tx_block_height + nLockTime
- The last 16 bits of the nLockTime field specify a relative block height before which the transaction can not be included in a block. In other words it can be included if
- If the 23rd bit (
See Also
- lock_time in the protocol specification
- Timelock
- BIP68
- The CHECKLOCKTIMEVERIFY opcode in BIP65
- The CHECKSEQUENCEVERIFY opcode in BIP112