Tangem Wallet Pack of 2 - Secure Crypto Wallet - Trusted Cold Storage for Bitcoin, Ethereum, NFT's &

Tangem Wallet Pack of 2 - Secure Crypto Wallet - Trusted Cold Storage for Bitcoin, Ethereum, NFT's &
Key item features Ultimate Security: Generates a private key that remains on the card, safeguarding crypto and NFTs from hackers with EAL6+ certification and audited firmware. Versatile Compatibility: Manages over 13,000 tokens across 70+ blockchains, supporting DeFi, NFTs, and DeEx without wires, Bluetooth, or USB. Effortless Operation: Utilizes NFC for secure transactions via a mobile device and the Tangem app, enabling buying and selling crypto with various payment methods. Smart Backup: Features a second Tangem Wallet as a backup, eliminating the need for paper, pictures, or seed phrases for recovery. Durable Design: Boasts IP68 protection against environmental conditions, ensuring longevity and robust physical security. Comprehensive Support: Compatible with Bitcoin, Ethereum, Solana, XRP, USDT, and over 6,000 cryptocurrencies, integrating with dApps and WalletConnect.

LBANK

LBANK

How the Refund transaction in Asymmetric Revocable Commitments constructed?

In "mastering bitcoin" book chapter 14 there is a section about Asymmetric Revocable Commitments that mention the need of refund transaction.

I don't understand how this refund transaction constructed:

  1. Does the refund transaction has a timelock?
  2. It states "the first set of commitments (called the refund) that assigns the initial balance of 5 bitcoin for Hitesh and 5 bitcoin for Irene" does it mean that the two first examples of transaction in this section are the refund transaction?

Output 0 <5 bitcoins>:
    <Irene's Public Key> CHECKSIG

Output 1 <5 bitcoins>:
    <1000 blocks>
    CHECKSEQUENCEVERIFY
    DROP
    <Hitesh's Public Key> CHECKSIG

and

Input: 2-of-2 funding output, signed by Hitesh

Output 0 <5 bitcoins>:
    <Hitesh's Public Key> CHECKSIG

Output 1 <5 bitcoins>:
    <1000 blocks>
    CHECKSEQUENCEVERIFY
    DROP
    <Irene's Public Key> CHECKSIG
  1. What is the role of the third example:
    <Irene's Public Key> CHECKSIG

Output 1 <5 bitcoins>:
IF
    # Revocation penalty output
    <Revocation Public Key>
ELSE
    <1000 blocks>
    CHECKSEQUENCEVERIFY
    DROP
    <Hitesh's Public Key>
ENDIF
CHECKSIG


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