noun | hasht tahym·lok kon·trakt
A Hashed TimeLock Contract is like a smart contract with a built-in self-destruct feature - it's a way to atomically swap cryptocurrencies across different blockchains without relying on a trusted third party. It's like a digital version of those briefcases from spy movies where both parties have to enter their codes at the same time or the whole thing blows up.
Example
"I used an HTLC to swap my BTC for some ETH - it was like defusing a bomb, but instead of cutting the red wire, I had to enter my private key and pray to the crypto gods that the other party wasn't trying to scam me."
"HTLCs are like the 'trust, but verify' of atomic swaps - you gotta have faith that the other party will hold up their end of the deal, but if they don't, the contract will automatically refund your coins after a certain amount of time. It's like a prenup for crypto trades."
