I first submitted this idea as an example usage for BIP65.
The feedback was that this might be large enough to be a BIP on its own.
So, I'm submitting here for review and feedback.
In short, this informational BIP describes two Bitcoin script constructs that utilize the CHECKLOCKTIMEVERIFY opcode to create a smart contract that allows a specific offer, with flexible expiration time, to be presented and either accepted (optionally into escrow), or withdrawn/rejected.
The BIP draft can be found at:
An small example usage implementation can be found at:
- Michael Ruddy