In a eUTxO-based blockchain like Cardano, the management of time can be finicky. Indeed, in order to maintain a complete determinism in the execution of scripts, it is impossible to introduce a notion of "current time". The execution would then depend on factor that are external to the transaction itself: the ineluctable stream of time flowing in our universe. Hence, to work around that, we typically define time intervals, within which the transaction can be executed. From within a script, it isn’t possible to know when exactly the script is executed, but we can reason about the interval bounds to validate pieces of logic.
The bound type, which can be finite or infinite.
A type to represent intervals of values, with finite or infinite bounds.