Term

Redeem Script

The script that defines spending conditions for a P2SH output; revealed and executed when the coins are spent.

Type:
bitcoin
scripting
1
definition

In P2SH, the locking script (scriptPubKey) holds a hash of a redeem script. To spend, the spender provides the redeem script and any required data (signatures, secrets), and the node verifies that the script’s hash matches and that the script evaluates to true.

Example 1.1

"A 2-of-3 multisig P2SH redeem script lists three public keys and requires any two signatures to spend."

2
notes

Redeem scripts increase input size when spending (higher fees). For simple single-sig, P2PKH avoids carrying redeem scripts. Taproot and P2WSH offer alternatives with different trade-offs.

Example 2.1

"Because the redeem script is revealed at spend time, observers can see the spending policy unless using Taproot-style commitments."

All terms and definitions may update as the Cryptionary improves.