Difference between revisions of "P2SH"
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− | + | '''Pay to script hash''' (P2SH) transactions were designed to allow funds to be locked with a script hash. To spend bitcoins locked in a P2SH output, the recipient needed to possess a script matching the script hash and a corresponding set of data which could solve the puzzle. It was introduced as [[https://github.com/bitcoin/bips/blob/master/bip-0016.mediawiki BIP-0016] | |
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P2SH was created after limits and transaction standardisation requirements were introduced that limited the scope of Bitcoin transactions that could be propagated over the BTC networks to a specific set of templated designs. | P2SH was created after limits and transaction standardisation requirements were introduced that limited the scope of Bitcoin transactions that could be propagated over the BTC networks to a specific set of templated designs. | ||
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== Deprecation == | == Deprecation == | ||
− | P2SH was deprecated as part of the BitcoinSV [[Genesis upgrade]] in February 2020. P2SH outputs remain spendable under network rules however any | + | P2SH was deprecated as part of the BitcoinSV [[Genesis upgrade]] in February 2020. P2SH outputs remain spendable under network rules however any transactions generated post Genesis using a P2SH output script will not have their full script evaluated during the spend check. |
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Revision as of 04:28, 29 January 2020
Pay to script hash (P2SH) transactions were designed to allow funds to be locked with a script hash. To spend bitcoins locked in a P2SH output, the recipient needed to possess a script matching the script hash and a corresponding set of data which could solve the puzzle. It was introduced as [BIP-0016
P2SH was created after limits and transaction standardisation requirements were introduced that limited the scope of Bitcoin transactions that could be propagated over the BTC networks to a specific set of templated designs.
P2SH enabled users to create a customised Bitcoin script and hash it into an ~34-character P2SH address. These were most commonly used to manage multisignature wallets that required more than 2 of 3 signature rights as was limited by the isStandard transaction test. Bitcoin P2SH addresses always started with 3
.
Deprecation
P2SH was deprecated as part of the BitcoinSV Genesis upgrade in February 2020. P2SH outputs remain spendable under network rules however any transactions generated post Genesis using a P2SH output script will not have their full script evaluated during the spend check.