What Is the Purpose of the “Time Lock” Feature on Some Transactions?

The time lock feature specifies a future time or block number before which a transaction cannot be added to the blockchain. It is used to create conditional payments, like those in payment channels (e.g.

Lightning Network) or for complex smart contract logic. This feature ensures that funds remain locked until certain conditions are met, providing a form of programmatic escrow and enabling trustless off-chain interactions.