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Thanks this is a good explanation. What else could that timecode marker enable? Can it be used in non-side chain applications in any way?
I'm not sure. Under what circumstances would you want to have a timelock that miners can vote to lengthen? Maybe it could be useful in a vault scenario, where you have your coins in cold storage, but if a thief gets ahold of your private keys, you get time to notice the withdrawal attempt and petition miners to let you withdraw your coins instead (and pause the thief's withdrawal attempt).
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