TERMIUM Plus®

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HASHED TIMELOCK CONTRACT [1 record]

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Alphabetical list of terms

Record 1 2021-02-26

English

Subject field(s)
  • Computer Mathematics
  • Currency and Foreign Exchange
DEF

[A] payment in which two people agree to a financial arrangement where one party will pay the other party a certain amount of cryptocurrency, such as Bitcoin or Ethereum.

CONT

The way that hash time-locked contracts work is that the person who will be making the payment sets up a specific hash, which represents the amount of money that will be paid. To receive the payment, the recipient will have to create a cryptographic proof of payment, and he or she will have to do this within the specified amount of time.

Key term(s)
  • hash time lock contract

French

Domaine(s)
  • Mathématiques informatiques
  • Politique monétaire et marché des changes

Spanish

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TERMIUM Plus®, the Government of Canada's terminology and linguistic data bank
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