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Time Lock
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What does Time Lock mean in crypto terms?
Time Lock is a cryptographic feature that restricts the spending or use of certain bitcoins or other cryptocurrency assets until a specified future date or until certain conditions are met. This mechanism is used to secure funds, create smart contracts with delayed execution, or implement layered security protocols. Time Locks enhance the flexibility of blockchain transactions, allowing users to schedule transactions, lock funds as a commitment, or create conditional payments based on time constraints.
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