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Merge pull request #742 from syncom/syncom/ch07-2-of-5-multisig

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ch07: 2-of-5 instead of 2-of-3 for Mohammed's example
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Andreas M. Antonopoulos 2021-01-19 11:41:58 -06:00 committed by GitHub
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@ -310,9 +310,9 @@ To lock it to a time, say 3 months from now, the transaction would be a P2SH tra
where +<now {plus} 3 months>+ is a block height or time value estimated 3 months from the time the transaction is mined: current block height {plus} 12,960 (blocks) or current Unix epoch time {plus} 7,760,000 (seconds). For now, don't worry about the +DROP+ opcode that follows +CHECKLOCKTIMEVERIFY+; it will be explained shortly.
When Bob tries to spend this UTXO, he constructs a transaction that references the UTXO as an input. He uses his signature and public key in the unlocking script of that input and sets the transaction +nLocktime+ to be equal or greater to the timelock in the +CHECKLOCKTIMEVERIFY+ Alice set. Bob then broadcasts the transaction on the bitcoin network.
When Bob tries to spend this UTXO, he constructs a transaction that references the UTXO as an input. He uses his signature and public key in the unlocking script of that input and sets the transaction +nLocktime+ to be equal to or greater than the timelock in the +CHECKLOCKTIMEVERIFY+ Alice set. Bob then broadcasts the transaction on the bitcoin network.
Bob's transaction is evaluated as follows. If the +CHECKLOCKTIMEVERIFY+ parameter Alice set is less than or equal the spending transaction's +nLocktime+, script execution continues (acts as if a &#x201c;no operation&#x201d; or NOP opcode was executed). Otherwise, script execution halts and the transaction is deemed invalid.
Bob's transaction is evaluated as follows. If the +CHECKLOCKTIMEVERIFY+ parameter Alice set is less than or equal to the spending transaction's +nLocktime+, script execution continues (acts as if a &#x201c;no operation&#x201d; or NOP opcode was executed). Otherwise, script execution halts and the transaction is deemed invalid.
More precisely, +CHECKLOCKTIMEVERIFY+ fails and halts execution, marking the transaction invalid if (source: BIP-65):
@ -761,7 +761,7 @@ The ((("use cases", "import/export", id="mohamappd")))second type of witness pro
HASH160 54c557e07dde5bb6cb791c7a540e0a4796f5e97e EQUAL
----
This P2SH script references the hash of a _redeem script_ that defines a 2-of-3 multisignature requirement to spend funds. To spend this output, Mohammed's company would present the redeem script (whose hash matches the script hash in the P2SH output) and the signatures necessary to satisfy that redeem script, all inside the transaction input:
This P2SH script references the hash of a _redeem script_ that defines a 2-of-5 multisignature requirement to spend funds. To spend this output, Mohammed's company would present the redeem script (whose hash matches the script hash in the P2SH output) and the signatures necessary to satisfy that redeem script, all inside the transaction input:
.Decoded transaction showing a P2SH output being spent
----