HTLC
A hashed time-locked contract: a conditional payment combining a secret-hash requirement with a timeout.
In more detail
An HTLC links payment to revealing the required secret before a deadline, with a timeout route if that does not happen. This supports routed Lightning payments and some atomic exchanges. The relationship between secrets and deadlines is part of the mechanism, rather than simply promising that any transfer will complete.
How you might use it
The Lightning recipient reveals the required preimage, allowing the hash-conditioned routed payment to complete before its timeout.
- Written out
- Hashed Time Locked Contract
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