Chapter 9. Transactions revisited

This chapter covers

  • Time-locking bitcoins
  • Swapping coins between blockchains
  • Attaching arbitrary data to transactions
  • Bumping the fee of a pending transaction

We’re now past the core chapters of the book, in which you learned the Bitcoin basics. In this chapter, we’ll dig deeper into the functionality transactions can offer.

We’ll start by exploring time locks. A time lock is a way to make a transaction invalid until some point in time. This means the transaction can’t be confirmed before that time constraint is met. Also, an output of a transaction can be programmed to prevent it from being spent until a time constraint is fulfilled. This is useful for digital contracts, such as atomic swaps, covered later ...

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