P2SH
A script type where the output is locked to the hash of a redeem script, enabling features like multi-sig.
- Also known as
- Pay to Script Hash
P2SH pays to the hash of a redeem script stored off-chain until spend time. To spend, the spender reveals the redeem script and provides data that satisfies it.
P2SH simplifies receiving because the sender only needs a script hash, while the spender handles the complexity later. The tradeoff is that the full redeem script becomes public when the output is spent, which can reveal the wallet policy.
Related terms
4 linkedExplore connected entries beyond the alphabetical index.
Multi Signature
→A type of digital wallet that requires signatures from multiple private keys to authorize transactions.
Unspent Transaction Output (UTXO)
→A discrete spendable output on a UTXO blockchain, similar to a digital coin that must be spent whole.
Transaction
→A signed data message that asks a blockchain to transfer value, execute code, or update state.
Address
→A public identifier used to receive cryptocurrency on a blockchain network.
All terms and definitions may update as the Cryptionary improves.
