BIPs bitcoin improvement proposals

197 - Hashed Time-Locked Collateral Contract

<pre> BIP: 197 Layer: Applications Title: Hashed Time-Locked Collateral Contract Author: Matthew Black <matthew@atomicloans.io> Tony Cai <tony@atomicloans.io> Comments-Summary: No comments yet. Comments-URI: https://github.com/bitcoin/bips/wiki/Comments:BIP-0197 Status: Draft Type: Standards Track Created: 2019-03-19 License: BSD-3-Clause CC0-1.0 </pre> ==Abstract== This BIP describes a script for generalized debt agreement contract based on Hashed Time-Lock Contract (BIP 199) transactions according to the Atomic Loans specification (https://arxiv.org/pdf/1901.05117.pdf). For more details visit https://atomicloans.io. ==Summary== A Hashed Time-Locked Collateral Contract (HTLCC) consists of two scripts that permit a designated party (the "borrower") to lock funds on the Bitcoin chain for a specified amount of time as collateral in a debt agreement where the loan principal is denominated in a currency on another blockchain. We denote the block...