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Basically, you give the counter party a transaction that they could write to the blockchain and trust that they won't because you're going to give them a better

Basically, you give the counter party a transaction that they could write to the blockchain and trust that they won't because you're going to give them a better option shortly. It's kind of like giving someone a signed check for $1 and telling them "I'll give you another check for $2 tomorrow if you don't actually cash that one." The party doesn't have to trust you for the $1 you've already given them.

qwertyuiop924 10y ago
...That makes forcing verification possible, but that's more like saying "I'll give you a check for one dollar that's definitely real, or you can come back tomorrow for two dollars, which might be fake." Nobody carrying out a serious financial transaction would take the ladder option.