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  1. Home
  2. /Glossary
  3. /Timelock
Back to Glossary
blockchain

Timelock

A smart contract mechanism that enforces a waiting period before certain actions take effect.

Definition

A smart contract mechanism that enforces a waiting period before certain actions take effect. In DeFi governance, timelocks give users time to review and react to proposed changes before they execute. If a malicious governance proposal passes, the timelock gives users time to withdraw funds.

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Related Terms

Governance

The process of making decisions about a protocol's development and direction.

Smart Contract

Self-executing code stored on a blockchain that runs when conditions are met.

DAO (Decentralized Autonomous Organization)

An organization run by code and governed by token holders instead of a traditional management structure.

ABI

Application Binary Interface.

Account Abstraction

A way to make crypto wallets behave more like normal apps by turning every account into a smart contract.

ERC-4337

The Ethereum standard for account abstraction without changing the core protocol.

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Ethereum Guide/learn/ethereumDAO Guide/learn/dao

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