The Bitcoin transaction lock time is the time at which a particular transaction can be added to the blockchain. This is the earliest time that miners can include the transaction in their hashing of the Merkle root to attach it in the latest block to the blockchain.
There are two specific types of transaction locktime. Firstly when the locktime figure is less than 500 million it is interpreted as a blockheight and miners therefore have to wait until that block height has been reached before attempting to include it in a block.
If it is above 500 million it is converted to a unix timestamp – a unix timestamp being the number of seconds since January 1st 1970.
- ILCoin’s DCB: the iCloud of the blockchain industry Sponsored
- What Is Algo Affiliates and How Is It Changing the Marketing Game? Sponsored
- 12 Ethereum DApps You Can Use Right Now
- Build The Ultimate Trading Strategy With Crix Exchange
- What is Energi 3.0?
- Meet Pepo: The first crypto-powered app approved by Apple
- 5 Litecoin Faucets to Start Earning LTC Right Now
- What is AlgoLead and How Can Your Company Benefit From White Label Solutions?
- Crypto Trading and the Rise of the Robots
- How Do You Use an IEO Platform? A Practical Example
This website is only provided for your general information and is not intended to be relied upon by you in making any investment decisions. You should always combine multiple sources of information and analysis before making an investment and seek independent expert financial advice.
Where we list or describe different products and services, we try to give you the information you need to help you compare them and choose the right product or service for you. We may also have tips and more information to help you compare providers.
Some providers pay us for advertisements or promotions on our website or in emails we may send you. Any commercial agreement we have in place with a provider does not affect how we describe them or their products and services. Sponsored companies are clearly labelled.