Term
Covenant
A script technique that restricts how coins can be spent in the future, enforcing policies at the UTXO level.
Type:
script
security
bch
1
definition
Covenants let a transaction output specify constraints on future spends (e.g., require certain outputs or destinations). On Bitcoin Cash, CashTokens enable covenant-like behavior within standard transactions.
2
usage
- Vaults, rate-limited wallets, and decentralized apps
- Enforced by script rather than off-chain agreements
Related Terms
CashTokens
→A native token and covenant capability on Bitcoin Cash enabling fungible and non-fungible tokens without smart-contract gas.
bch
token
Opcode
→A fundamental element of Bitcoin's scripting language that enables complex transactions.
technical
blockchain
Smart Contract
→Programmatic rules executed by the blockchain to enforce agreements without intermediaries.
blockchain
scripting
All terms and definitions may update as the Cryptionary improves.
