Why does new money wait in Redacted?

Timing is one of the easiest ways to link a deposit to what follows. If money could be used the moment it arrived, a deposit and an action a minute later would point straight at each other. The wait puts time between them, and deposits that become usable together are let in as one batch of up to 20.

• Deposits from public wallets wait.
• Money someone else sent to your Spending account waits when it moves into the Reserve.
• Your own money coming back from Spending, and money already in the Reserve, can be used at once.
• You can cancel your own waiting deposit at any time.

While money waits, the nodes can send back money they decide not to accept, which keeps the crowd you blend in with clean. That takes at least two nodes, or a third of the active nodes once more than six are active, and every vote names its reason on-chain.

Money can only go back to the address that sent it. No one can redirect it, keep it or send it anywhere else, and neither Redacted’s core contributors nor the DAO can send it back at all.

Token holders (the DAO until the relaunch) set the wait at between 0 and 24 hours, with a day’s notice. In incident mode, new money waits 24 hours instead.