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Rewrite 3-key limit information

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Andreas M. Antonopoulos 2018-02-03 16:02:41 -06:00 committed by GitHub
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@ -12,7 +12,9 @@ First, we will look at _multisignature_ scripts. Next, we will examine the secon
[[multisig]]
=== Multisignature
((("transactions", "advanced", "multisignature scripts")))((("transactions", "advanced", id="Tadv07")))((("scripting", "multisignature scripts", id="Smulti07")))((("multisignature scripts")))Multisignature scripts set a condition where N public keys are recorded in the script and at least M of those must provide signatures to unlock the funds. This is also known as an M-of-N scheme, where N is the total number of keys and M is the threshold of signatures required for validation. For example, a 2-of-3 multisignature is one where three public keys are listed as potential signers and at least two of those must be used to create signatures for a valid transaction to spend the funds. At this time, standard multisignature scripts are limited to at most 15 listed public keys, meaning you can do anything from a 1-of-1 to a 15-of-15 multisignature or any combination within that range. The limitation to 15 listed keys might be lifted by the time this book is published, so check the +IsStandard()+ function to see what is currently accepted by the network.
((("transactions", "advanced", "multisignature scripts")))((("transactions", "advanced", id="Tadv07")))((("scripting", "multisignature scripts", id="Smulti07")))((("multisignature scripts")))Multisignature scripts set a condition where N public keys are recorded in the script and at least M of those must provide signatures to unlock the funds. This is also known as an M-of-N scheme, where N is the total number of keys and M is the threshold of signatures required for validation. For example, a 2-of-3 multisignature is one where three public keys are listed as potential signers and at least two of those must be used to create signatures for a valid transaction to spend the funds.
At this time, _standard_ multisignature scripts are limited to at most 3 listed public keys, meaning you can do anything from a 1-of-1 to a 3-of-3 multisignature or any combination within that range. The limitation to 3 listed keys might be lifted by the time this book is published, so check the +IsStandard()+ function to see what is currently accepted by the network. Note that the limit of 3 keys applies only to standard (also known as "bare") multisignature scripts, not to multisignature scripts wrapped in a Pay-to-Script-Hash (P2SH) script. P2SH multisignature scripts are limited to 15 keys, allowing for up to 15-of-15 multisignature. We will learn about P2SH in <<p2sh>>.
The general form of a locking script setting an M-of-N multisignature condition is: