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drusselloctal@gmail.com 2014-10-30 14:22:46 -07:00
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@ -572,17 +572,17 @@ The Pay-to-Script-Hash feature offers the following benefits compared to the dir
* P2SH shifts the burden in data storage for the long script from the present time (payment) to a future time (when it is spent).
* P2SH shifts the transaction fee cost of a long script from the sender to the recipient who has to include the long redeem script to spend it.
===== Redeem Script and isStandard Validation
===== Redeem script and isStandard validation
Prior to version 0.9.2 of the Bitcoin Core client, Pay-to-Script-Hash was limited to the standard types of bitcoin transaction scripts, by the +isStandard()+ function. That means that the redeem script presented in the spending transaction could only be one of the standard types: P2PK, P2PKH or Multi-Sig, excluding OP_RETURN and P2SH itself.
Prior to version 0.9.2 of the Bitcoin Core client, Pay-to-Script-Hash was limited to the standard types of bitcoin transaction scripts, by the +isStandard()+ function. That means that the redeem script presented in the spending transaction could only be one of the standard types: P2PK, P2PKH, or Multi-Sig, excluding +OP_RETURN+ and P2SH itself.
As of version 0.9.2 of the Bitcoin Core client, P2SH transactions can contain any valid script, making the P2SH standard much more flexible and allowing for experimentation with many novel and complex types of transactions.
Note that you are not able to put a P2SH inside a P2SH redeem script, because the P2SH specification is not recursive. You are also still not be able to use OP_RETURN in a redeem script because OP_RETURN cannot be redeemed by definition.
Note that you are not able to put a P2SH inside a P2SH redeem script, because the P2SH specification is not recursive. You are also still not be able to use +OP_RETURN+ in a redeem script because +OP_RETURN+ cannot be redeemed by definition.
Note that since the redeem script is not presented to the network until you attempt to spend a P2SH output, if you lock an output with the hash of an invalid transaction it will be processed regardless. However, you will not be able to spend it as the spending transaction which includes the redeem script will not be accepted, as it is an invalid script. This creates a risk, because you can lock bitcoin in a P2SH which cannot be later spent. The network will accept the P2SH encumbrance even if it corresponds to an invalid redeem script, because the script hash gives no indication of the script it represents.
Note that because the redeem script is not presented to the network until you attempt to spend a P2SH output, if you lock an output with the hash of an invalid transaction it will be processed regardless. However, you will not be able to spend it because the spending transaction, which includes the redeem script, will not be accepted because it is an invalid script. This creates a risk, because you can lock bitcoin in a P2SH which cannot be spent later. The network will accept the P2SH encumbrance even if it corresponds to an invalid redeem script, because the script hash gives no indication of the script it represents.
[WARNING]
====
P2SH locking scripts contain the hash of a redeem script which gives no clues as to the content of the redeem script itself. The P2SH transaction will be considered valid and accepted even if the redeem script is invalid. You may accidentally lock bitcoin in such a way that it cannot later be spent.
P2SH locking scripts contain the hash of a redeem script, which gives no clues as to the content of the redeem script itself. The P2SH transaction will be considered valid and accepted even if the redeem script is invalid. You may accidentally lock bitcoin in such a way that it cannot later be spent.
====