[Bitcoin-development] Consensus-enforced transaction replacement via sequence numbers

Jorge Timón jtimon at jtimon.cc
Wed May 27 17:07:24 UTC 2015

On May 27, 2015 12:58 PM, "Peter Todd" <pete at petertodd.org> wrote:

> What I'm not seeing is how the relative nLockTime that nSequence
> provides fundamentally changes any of this.

This allows the implementation of a rcltv that doesn't make script depend
on the current height, in a similar way that cltv uses the nLockTime (which
has been compared with the current height already when checking the script).
In fact, the implementation could be simpler if the goal of maintaining the
original nSequence semantics was ignored ( although not that simpler, but
you wouldn't need to use ~ (bitwise not).
I'm still not sure whether there should be 2 BIPs for this or just one.

> --
> 'peter'[:-1]@petertodd.org
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