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Merge pull request bitcoin#243 from CodeShark/BIP0112_revisions
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BIP-0112 minor revision to text.
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@luke-jr
luke-jr committed Nov 26, 2015
2 parents 641b91b + cc90614 commit 824284d
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Expand Up @@ -85,9 +85,9 @@ of some future event. However, given the immutable nature of the blockchain, it
is practically impossible to retroactively invalidate a previous commitment that
has already confirmed. The only mechanism we really have for retroactive
invalidation is blockchain reorganization which, for fundamental security
reasons, is designed to be very hard and very expensive to deliberately pull off.
reasons, is designed to be very hard and very expensive to do.

Despite this limitation, we do have a way to provide something functionally similar
Despite this limitation, we do have a way to provide something functionally similar to retroactive invalidation while preserving irreversibility of past commitments
using CHECKSEQUENCEVERIFY. By constructing scripts with multiple branches of
execution where one or more of the branches are delayed we provide
a time window in which someone can supply an invalidation condition that allows the
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