What Is “Time-Lock” in a Transaction and How Can It Be Used to Manage Latency?

A time-lock is a condition applied to a transaction that prevents it from being included in a block until a specific time or block number has passed. It is primarily used for security, such as ensuring a multisig action is delayed, or for specific contract logic.

It does not reduce latency; rather, it increases the minimum latency by imposing a waiting period, ensuring a transaction is not confirmed prematurely.