hashlock
nounEtymology From hash + lock.
1
A Bitcoin feature that restricts the spending of an output or multiple outputs until a specified piece of data is publicly revealed.
- By encumbering the Bitcoin transaction outputs with a hashlock and timelock, the channel counterparty will be unable to outright steal funds and Bitcoins can be exchanged without outright counterparty theft.2016 January 14, Joseph Poon, Thaddeus Dryja, “The Bitcoin Lightning Network: Scalable Off-Chain Instant Payments”, in Lightning Network: