A time lock is a mechanism that restricts the transfer or expenditure of digital assets until a specified period has elapsed or a certain condition is met. This feature is often employed in smart contracts to ensure security, facilitate escrow arrangements, or manage vesting schedules. It introduces a temporal constraint on asset accessibility.
Context
Time locks are a fundamental component in many decentralized finance protocols and smart contract applications, influencing transaction finality and asset management. News often pertains to their application in mitigating risks associated with smart contract vulnerabilities or in coordinating complex on-chain operations.
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