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myarbrough@oreilly.com 2014-11-18 08:08:12 -08:00
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@ -564,13 +564,13 @@ P2SH addresses hide all of the complexity, so that the person making a payment d
* Complex scripts are replaced by shorter fingerprints in the transaction output, making the transaction smaller.
* Scripts can be coded as an address, so the sender and the sender's wallet don't need complex engineering to implement P2SH.
* P2SH shifts the burden of constructing the script to the recipient, not the sender.
* P2SH shifts the burden in data storage for the long script from the output (which is in the UTXO set and therefore impacts memory) to the input (only stored on the blockchain).
* P2SH shifts the burden in data storage for the long script from the output (which is in the UTXO set and therefore affect memory) to the input (only stored on the block chain).
* 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.
* 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
((("Pay-to-Script-Hash (P2SH)","isStandard validation")))((("Pay-to-Script-Hash (P2SH)","redeem script for")))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.
((("pay-to-script-hash (P2SH)","isStandard validation")))((("pay-to-script-hash (P2SH)","redeem script for")))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.