CheckLockTimeVerify, or How a Time-Lock Patch Will Boost Bitcoin’s Potential

By November 4, 2015Bitcoin Business

CheckLockTimeVerify (CLTV) has been merged into Bitcoin Core. This is generally considered great news, because it means that Bitcoin’s potential has improved drastically. In particular, the patch that was proposed by Bitcoin Core developer Peter Todd allows for the proper establishment of payment channels. This means that Bitcoin users will be able to transact cheaper, faster, and at a higher volume than usual, while maintaining all of the advantages as offered by the blockchain.

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