{"id":1633,"date":"2020-02-10T00:01:00","date_gmt":"2020-02-10T08:01:00","guid":{"rendered":"https:\/\/www.opennode.com\/blog\/?page_id=1633"},"modified":"2020-02-16T16:20:47","modified_gmt":"2020-02-17T00:20:47","slug":"htlc","status":"publish","type":"page","link":"https:\/\/blog.opennode.com\/blog\/glossary\/htlc\/","title":{"rendered":"HTLC"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span>\n<h1 class=\"wp-block-heading\">Hashed Time-Locked Contract (HTLC)<\/h1>\n\n\n\n<p>HTLCs are a type of <a href=\"https:\/\/www.opennode.com\/blog\/smart-contract\">smart contract<\/a> that is applied to transactions. It is a combination of two distinct technologies that, when used together, eliminate counter-party risk. Those two technologies are <a href=\"https:\/\/www.opennode.com\/blog\/hashlock\">hashlock<\/a> and <a href=\"https:\/\/www.opennode.com\/blog\/timelock\">timelock<\/a>.<\/p>\n\n\n\n<p>In practice, an HTLC transaction is only valid if the counter-parties (recipients) of a transaction acknowledge that they received the payment with a cryptographic proof within a time frame. Otherwise, the transaction automatically revokes via the law of the smart contract itself.<\/p>\n\n\n\n<p>HTLCs are useful for both <a href=\"https:\/\/www.opennode.com\/blog\/glossary\/atomic-swap\">atomic swaps<\/a> and in <a href=\"https:\/\/www.opennode.com\/blog\/lightning-network\">Lighting Network<\/a> <a href=\"https:\/\/www.opennode.com\/blog\/bidirectional-channel\">bidirectional payment channels<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Links<\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li><em>Hashed Timelock Contract<\/em> &#8211; <a href=\"https:\/\/www.investopedia.com\/terms\/h\/hashed-timelock-contract.asp\">Investopedia<\/a>&nbsp;<\/li><li><em>Hash Time Locked Contracts<\/em> &#8211; <a href=\"https:\/\/en.bitcoin.it\/wiki\/Hash_Time_Locked_Contracts\">Bitcoin Wiki<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span>Hashed Time-Locked Contract (HTLC) HTLCs are a type of smart contract that is applied to transactions. It is a combination of two distinct technologies that, when used together, eliminate counter-party risk. Those two technologies are hashlock and timelock. In practice, an HTLC transaction is only valid if the counter-parties (recipients) of a transaction acknowledge that  &#8230;<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":172,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-notitle.php","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1633","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>HTLC - OpenNode Blog<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HTLC - OpenNode Blog\" \/>\n<meta property=\"og:description\" content=\"Reading Time:  &lt; 1 minuteHashed Time-Locked Contract (HTLC) HTLCs are a type of smart contract that is applied to transactions. It is a combination of two distinct technologies that, when used together, eliminate counter-party risk. Those two technologies are hashlock and timelock. 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