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judymcconville@roadrunner.com 2017-04-27 15:05:06 -07:00
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@ -192,7 +192,7 @@ As you can see, Alice's wallet contains enough bitcoin in a single unspent outpu
==== Creating the Outputs
A transaction output is created in the form of a script that creates an encumbrance on the value and can only be redeemed by the introduction of a solution to the script. In simpler terms, Alice's transaction output will contain a script that says something like, "This output is payable to whoever can present a signature from the key corresponding to Bob's public address." Because only Bob has the wallet with the keys corresponding to that address, only Bob's wallet can present such a signature to redeem this output. Alice will therefore "encumber" the output value with a demand for a signature from Bob.
((("transactions", "constructing", "creating outputs")))((("outputs and inputs", "creating outputs")))A transaction output is created in the form of a script that creates an encumbrance on the value and can only be redeemed by the introduction of a solution to the script. In simpler terms, Alice's transaction output will contain a script that says something like, "This output is payable to whoever can present a signature from the key corresponding to Bob's public address." Because only Bob has the wallet with the keys corresponding to that address, only Bob's wallet can present such a signature to redeem this output. Alice will therefore "encumber" the output value with a demand for a signature from Bob.
This transaction will also include a second output, because Alice's funds are in the form of a 0.10 BTC output, too much money for the 0.015 BTC cup of coffee. Alice will need 0.085 BTC in change. Alice's change payment is created by Alice's wallet as an output in the very same transaction as the payment to Bob. Essentially, Alice's wallet breaks her funds into two payments: one to Bob, and one back to herself. She can then use (spend) the change output in a subsequent transaction.