Locktime

What is a Locktime Crypto?

A locktime requirement limits the time or block on the blockchain at which a transaction can be completed. It can be viewed as a schedule by which blockchain miners process cryptocurrency transactions. They were first added by Satoshi Nakamoto, the person who created the cryptocurrency Bitcoin. This was supposed to be a part of every transaction. The blocking time is 0x00000000 by default (0). Transactions are not confirmed until a particular time or block height is reached, thanks to locktimes.

Locktimes can be either time-relative or absolute. Blocks are defined at a specific time thanks to absolute locktimes. To specify how much time must pass before a transaction can be confirmed, time-relative locktimes have been implemented.