418 Bitcoin / Development & Technical Discussion /
Re: Transactions and Scripts: DUP HASH160 ... EQUALVERIFY CHECKSIG
on: June 17, 2010, 06:46:08 PM
The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime. Because of that, I wanted to design it to support every possible transaction type I could think of. The problem was, each thing required special support code and data fields whether it was used or not, and only covered one special case at a time. It would have been an explosion of special cases. The solution was script, which generalizes the problem so transacting parties can describe their transaction as a predicate that the node network evaluates. The nodes only need to understand the transaction to the extent of evaluating whether the sender's conditions are met.
The script is actually a predicate. It's just an equation that evaluates to true or false. Predicate is a long and unfamiliar word so I called it script.
The receiver of a payment does a template match on the script. Currently, receivers only accept two templates: direct payment and bitcoin address. Future versions can add templates for more transaction types and nodes running that version or higher will be able to receive them. All versions of nodes in the network can verify and process any new transactions into blocks, even though they may not know how to read them.
The design supports a tremendous variety of possible transaction types that I designed years ago. Escrow transactions, bonded contracts, third party arbitration, multi-party signature, etc. If Bitcoin catches on in a big way, these are things we'll want to explore in the future, but they all had to be designed at the beginning to make sure they would be possible later.
I don't believe a second, compatible implementation of Bitcoin will ever be a good idea. So much of the design depends on all nodes getting exactly identical results in lockstep that a second implementation would be a menace to the network. The MIT license is compatible with all other licenses and commercial uses, so there is no need to rewrite it from a licensing standpoint.
satoshi
Fundador
Miembro Sr.
https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts;start=400
Re: Transactions and Scripts: DUP HASH160 ... EQUALVERIFY CHECKSIG
on: June 17, 2010, 06:46:08 PM
The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime. Because of that, I wanted to design it to support every possible transaction type I could think of. The problem was, each thing required special support code and data fields whether it was used or not, and only covered one special case at a time. It would have been an explosion of special cases. The solution was script, which generalizes the problem so transacting parties can describe their transaction as a predicate that the node network evaluates. The nodes only need to understand the transaction to the extent of evaluating whether the sender's conditions are met.
The script is actually a predicate. It's just an equation that evaluates to true or false. Predicate is a long and unfamiliar word so I called it script.
The receiver of a payment does a template match on the script. Currently, receivers only accept two templates: direct payment and bitcoin address. Future versions can add templates for more transaction types and nodes running that version or higher will be able to receive them. All versions of nodes in the network can verify and process any new transactions into blocks, even though they may not know how to read them.
The design supports a tremendous variety of possible transaction types that I designed years ago. Escrow transactions, bonded contracts, third party arbitration, multi-party signature, etc. If Bitcoin catches on in a big way, these are things we'll want to explore in the future, but they all had to be designed at the beginning to make sure they would be possible later.
I don't believe a second, compatible implementation of Bitcoin will ever be a good idea. So much of the design depends on all nodes getting exactly identical results in lockstep that a second implementation would be a menace to the network. The MIT license is compatible with all other licenses and commercial uses, so there is no need to rewrite it from a licensing standpoint.
satoshi
Fundador
Miembro Sr.
https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts;start=400
"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime...."
satoshi
Fundador
Miembro Sr.
on: June 17, 2010, 06:46:08 PM
https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts;start=400
satoshi
Fundador
Miembro Sr.
on: June 17, 2010, 06:46:08 PM
https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts;start=400
Forwarded from bitcoin
Bitcoin Hits $29K for First Time Ever, Raising HODLer Hopes for $30K by New Year’s
https://www.coindesk.com/bitcoin-hits-29k-first-time-ever
"I would expect to see bitcoin charge past $30,000 as we enter the new year,” said one market observer.
https://www.coindesk.com/bitcoin-hits-29k-first-time-ever
"I would expect to see bitcoin charge past $30,000 as we enter the new year,” said one market observer.
Bitcoin Price to Rally Higher as President Trump Signs $900 Billion Stimulus Bill
United States President Donald Trump has signed the $900 billion pandemic relief bill on Sunday night,
https://t.me/CryptoWorldNews
United States President Donald Trump has signed the $900 billion pandemic relief bill on Sunday night,
https://t.me/CryptoWorldNews
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En caso de que me olvide esta noche, Feliz Nochevieja para todos y con suerte en 2021 habrá muchas oportunidades para reunirnos en la vida real. Una cerveza fría te estará esperando lo antes posible ✌
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- Happy New Year! #BitcoinSV
Forwarded from bitcoin
Crypto Dollars and CBDCs: The Battle to Come
https://www.coindesk.com/crypto-dollars-and-cbdcs-the-battle-to-come
The future of money will be a tussle between algorythmic and fiat-pegged stablecoins and central bank digital currency experiments.
https://www.coindesk.com/crypto-dollars-and-cbdcs-the-battle-to-come
The future of money will be a tussle between algorythmic and fiat-pegged stablecoins and central bank digital currency experiments.
"This is a guest post by Nick. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine."
https://bitcoinmagazine.com/articles/bitcoin-will-rise-above-100000-in-2021
https://bitcoinmagazine.com/articles/bitcoin-will-rise-above-100000-in-2021
Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides
Bitcoin Will Rise Above $100,000 In 2021
Bitcoin’s adoption curve is clear: it’s an asymmetric bet with significant potential to cross six figures next year.
Digital currencies may challenge SWIFT global payment network, says Russian central bank
— RT Business News
26 Dec, 2020
https://www.rt.com/business/510534-digital-currencies-swift-challenge/
— RT Business News
26 Dec, 2020
https://www.rt.com/business/510534-digital-currencies-swift-challenge/
RT
Digital currencies may challenge SWIFT global payment network, says Russian central bank
The development of digital currencies may challenge the SWIFT international banking payment system and could eventually make it redundant, the Central Bank of Russia (CBR) has said.
Tened cuidado con lo que escribís en Twitter, porque los cabrones de BSV tienen una aplicación que pueden coger el twit y guardarlo para siempre en la blockchain.
A ver cómo rebates luego que no lo has dicho!!!
Échale un vistazo a Twetchdat ✪ (@twetchdat): https://twitter.com/twetchdat?s=09
A ver cómo rebates luego que no lo has dicho!!!
Échale un vistazo a Twetchdat ✪ (@twetchdat): https://twitter.com/twetchdat?s=09
Twitter
Twetchdat ✪ (@twetchdat) | Twitter
The latest Tweets from Twetchdat ✪ (@twetchdat). Tag me in reply to any tweet you want saved to the blockchain and posted to @twetchapp ! Sign up today 👇
Forwarded from bitcoin
Bittrex to Delist Privacy Coins Monero, Dash and Zcash
https://www.coindesk.com/bittrex-to-delist-privacy-coins-monero-dash-and-zcash
While Bittrex gave no reason for the removals, exchanges around the world have been moving to delist coins that seek to hide the activity of their users.
https://www.coindesk.com/bittrex-to-delist-privacy-coins-monero-dash-and-zcash
While Bittrex gave no reason for the removals, exchanges around the world have been moving to delist coins that seek to hide the activity of their users.
Forwarded from bitcoin
Bitcoin Blasts Past $34K for First Time, Less Than 24 Hours After Blowing Through $30K
https://www.coindesk.com/bitcoin-blasts-past-34k-for-first-time-less-than-24-hours-after-blowing-through-30k
Following a torrid December in which the price of bitcoin rose $10,000, three days into the new year it's up another $5,000.
https://www.coindesk.com/bitcoin-blasts-past-34k-for-first-time-less-than-24-hours-after-blowing-through-30k
Following a torrid December in which the price of bitcoin rose $10,000, three days into the new year it's up another $5,000.
Ethereum is still 44 percent from touching its early 2018 peak $1,442.
https://u.today/ethereum-surpasses-800-but-its-far-from-its-all-time-high
https://u.today/ethereum-surpasses-800-but-its-far-from-its-all-time-high