I'm creating a Bitcoin based lottery application. An entry into the lottery is a transaction spending 1BTC.
If someone guesses some arbitrary value correctly, they can claim the entry and send this 1 Btc to an address they control.
I wish to have functionality as follows: if no one guesses the correct number after 100 blocks, then I can claim it as the operator of the lottery.
Can I do this via: Entry transaction IF CHECKLOCKTIMEVERIFY payable to a correct guess ELSE Payable to my operator public key END
Then when I try to spend this entry transaction, I set the nLockTime to the current block.
Throughout I set all the sequence numbers to 0xFFF... So that the transactions are mined.