197 - Hashed Time-Locked Collateral Contract
BIP: 197 source Layer: Applications Title: Hashed Time-Locked Collateral Contract Authors: Matthew Black Tony Cai Status: Draft Type: Specification Assigned: 2019-03-19 License: BSD-3-Clause OR CC0-1.0 Table of ContentsAbstractSummaryInteractionCompatibilityMotivationDefinitionsApprove PeriodLoan PeriodBidding PeriodSeizure PeriodRefund PeriodRationaleBackwards CompatibilityImplementationCopyright 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...