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Made changes to ch05.asciidoc

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myarbrough@oreilly.com 2014-11-18 08:04:56 -08:00
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@ -481,8 +481,7 @@ In <<ch01_intro_what_is_bitcoin>> we introduced Mohammed, an electronics importe
The resulting script is quite long and looks like this:
----
2 <Mohammed's Public Key> <Partner1 Public Key> <Partner2 Public Key>
<Partner3 Public Key> <Attorney Public Key> 5 OP_CHECKMULTISIG
2 <Mohammed's Public Key> <Partner1 Public Key> <Partner2 Public Key> <Partner3 Public Key> <Attorney Public Key> 5 OP_CHECKMULTISIG
----
Although multi-signature scripts are a powerful feature, they are cumbersome to use. Given the preceding script, Mohammed would have to communicate this script to every customer prior to payment. Each customer would have to use special bitcoin wallet software with the ability to create custom transaction scripts, and each customer would have to understand how to create a transaction using custom scripts. Furthermore, the resulting transaction would be about five times larger than a simple payment transaction, because this script contains very long public keys. The burden of that extra-large transaction would be borne by the customer in the form of fees. Finally, a large transaction script like this would be carried in the UTXO set in RAM in every full node, until it was spent. All of these issues make using complex output scripts difficult in practice.