πΆπππ day πππ, πππs π πππ π πππ π πππ π πππππ ππππ πππππ ππππ πππ ππππππππ ππππ ππ’ ππππ πππππππππ @pelon53 π ππ ππππ πππ ππππ ππ ππππ ππ π πππ ππππ πππππ πππ ππππππππ πππππππ ππ ππππ ππ, πππππ ππππ ππ @kingworldline
πππππππππππ’ πππ π ππππ ππ πππ πππππ πππππ ππ πππππππ πππππππ ππ πππ πππ’ ππππ ππ’, ππ ππ πππ ππππππππππ’ πππ ππππππππππ πππππππ ππ ππππ ππππππ πππππ’ day πππππ πππ πππ’ ππ π ππ πππππππππ ππ ππ‘πππππππ.
π·ππππ π πππ πππ ππππ πππππππ ππππππππ ππ πππ ππππππππππ πππ ππππ π ππππ ππππ’ πππππ ππ ππππππππππ ππ πππ ππππππ ππ πππ ππππ ππ ππππππ, fππππππ πππ ππππ ππππ’ πππππ ππππ.
ππππeforπ πππππ ππ πππ πππππ πππππ ππ πππ ππππππππ π ππππ πππππππ πππ ππ‘πππππππππ ππ πππ πΏ2ππ·, π·ππππ πππ ππππππ’π πΏ2ππ· ππππππ’ πππππ πππ πππ’ ππ ππππππ ππππ πππππ ππππ ππππ π ππ πππππππ ππ πππππππππ ππ πππ π°ππππ 2012.
πΌππππ ππππ πππ πππππππ ππ πππ ππ‘πππππππ ππππ ππ ππ πππππ ππππππππππ ππ πππ πππππππ ππππππππ’ ππ πππ ππππππππ ππππ ππ script, which πππππ ππ ππππππ πππ πππππππ, πππππ ππππ πππ πππππππππππ’ ππ ππππππππ πππ ππππππππ£πππ π’πππ ππ π ππππππ ππ πππππ, πππππ ππis πππ ππ ππππππ πππππ πππ ππππππππππππ’.
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Hence this is basically configured to lock scripts that have the hash content, hence this is customized in a way that is unique on its own thereby locking its scripts which is known as the script hash as well, below are some examples of what I just said.
Meanwhile based in unlocking scripts which has your full details, meanwhile in the order way round this is called redeem script, which is backed with the opcode, hence to free it means to unlock
Then talking about the ScriptSig, base in this aspect means unlocking it quite different from that script public key hence the redeem script is pictured as the P2MS hence the proceeding signature can be used in unlocking it.
As shown on the above ScriptSig, there are two main signatures, of which the processing signature needs to support the redeeming signature before it can be unlocked.
Pay to script hash was the second Bitcoin script which was initiated, meanwhile the aim of the second initiation was ro amend the previous issue the formal script was having.
Meanwhile with the creation of this new script calls for many amendments of the previous one which gave it more advantage as shown below.
β’SECURITY
Meanwhile security is needed in all we do, in order keep us safe from theft, hence the cryptographic grants sufficient security that has the standard over pay to public key hash.
β’EAZY TRANSACTION
Here some protocol logistics are being skipped, hence the only expected thing is to forward the address format, thereby making it easy and simple.
β’MULTISIG
This the main reason behind the pay to script hash in on the accessibility of the transaction backup.
β’SEGWIT AND NON SEGWIT
Hence with bitcoin having a private key which is used in creating wallets, therefore the pay to script hash is a format for the segwit, still accessible and durable with the non segwit.
Therefore the P2PKH is expressed as pay to public key hash, hence this provides assistance as regard to securing transactions with bitcoin, and as well its functionality.
Hence here are some basic terminology used in transaction building, which comprises the input, and the locktime, below are the details below.
β’THE INPUT: This is known as a sequential number, more like the unlocking script which in the other way round is known as the SCRIPTSIG.
THE OUTPUT: This is the real value of the πππππ πππππ being spent individually, hence this is known as the script public key.
THE LOCKTIME: This is known by its block validity of a particular transaction.
P2SH
P2SH is an acronyms to Pay to script hash, therefore this is the new type of address which is structure as P2PKH with a lot of individual differences , hence the pat to script is address which actually starts with "3" in place of "1" of the pay to public key hash.
Hence this is more complex in terms of functionality than that of the previous kind of address.
On spending bitcoin via pay to script hash the recipient must provide a script which is expected to correspond to the script hash and data as well which makes it legit.
Therefore it is known that using the pay to script hash is more less in transaction fee.
Example: 3GRdnTq18LyNveWa1gQJcgp8qEnzijv5vR
P2PKH
Hence this is also known as the legacy address which was the first and the old address format which actually starts with the numerical value of digit "1".
Meanwhile this actually has 26 to 36 characters.
Hence the fee on the pay to public key hash is higher compared to the segwit address, hence since it is an outdated address they always have larger sizes.
Example:
1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa
We all know that the multisig signature is a digital signature which grants authentication on document signing.
Meanwhile as regards to the question where we have 5 people from a particular project, hence the five are all having their private keys, hence the three there are expected to spend their cash where by all has the franchise to donate courtesy to the project designed address. Hence with the private key everything seems to be visible to the blockchain.
Hence to work this out means that the 10BTC belongs to the 3 to 5 multisig signature which means that 5 people are holding the BTC private keys while the 3 are expected to and mandated to spend there's based on cash, hence explaining the various steps using scriptsig means that P2MS is regarded as scriptsig.
Therefore, since 5 different individuals are the one holding the BTC private, that tells us that it will demand five individuals that have the different scriptsig for unlocking signatures, hence to unlock the 10 BTC involved before the three can spend it, is to purchase the necessary equipment for the firm.
Hence making use of the scriptpublickey tells us the exact period of time the 5 Individuals tend to spend it off .
Therefore the scrriptpublickey is made to work as the public keys, hence they all have their role to play whereby the 5 which have the scriptpublickey are to make solution transactions while the three are expected to spend the cash in buying equipment for the firm, meanwhile the keys are vital.
Hence over the past years of the existence of Bitcoin, this currency have being facing a lot of challenges as the first crypto currency meanwhile with the initiation and existence of the Taproot seem to arrest the challenges which have upgraded Bit Bitcoin, hence the main purpose of the Taproot is to modify the Bitcoin script work in place to make the scalability, security and the security more strong and secured.
Hence with the existence of the Taproot and the SCHNORR firm has helped and improved Bitcoin a lot in the area like that of scalability, privacy, and security as well.
Meanwhile from the time Bitcoin has been in existence, it has been oΜ€nΜ€ regular issue pertaining to hardfork and other issues, hence with the introduction of Taproot has upgraded the Bitcoin as a currency.
Hence Taproot technology has changed the working pattern thereby improving its specialisation on the scalability, privacy, security and many more.
Therefore the problem mentioned above has been a challenge that the Bitcoin network has been facing since its creation, hence with the existence of the Taproot and SΜ€cΜ€hΜ€nΜ€oΜ€rΜ€rΜ€ have proven a helping hand to the Bitcoin network.
To answer this question we are asked to use the demo for the signature, therefore I will proceed by signing in the SCHNORR signature.
Hence the first thing to do is to visit the web address click here
Next, I proceeded by clicking on the signature
β’Then after that progression I got my Private key as shown on the below screenshot.
β’Then there was a space to click which enabled me to sign in, thereby reading the message and unfolding it.
β’Then after the previous point where I entered my Schnorr signature, I signed in
β’Then quickly click on verify which got it verified by showing the background green colour.
As you can see on the screenshot I actually have my public key, and signature all being verified.
β’ Then i remove the first character from the signature i giit ref background showing unvarified or error and here is the result of all.
1
Link
2
Link
3
Link
4
In conclusion the pay to script hash with the acronyms P2SH was the first first script hash on bitcoin to exist which actually lacks some potential before the introduction of pay to private key which is known with the acronym has helped to make sure that Bitcoin transaction to run on a smooth base on the various areas that the bitcoin is having some challenges.
Therefore these innovations have brought change and improvement in terms of security and other.
Thanks to my dear professor @pelon53 who has brought this wonderful lesson across our knowledge, it is my pleasure to be part of this.
Thanks and merry christmas sir.