Block_Chain_VIII.pptx

Block Chain Technology Dr. Tamal Mondal Lecture VIII Symbiosis International (Deemed University) Session Objectives By the end of this session, you will be able to:  Bitcoin Transaction Details & Types – Closely into some details about Bitcoin Transactions and Types.  Appl...

Block Chain Technology Dr. Tamal Mondal Lecture VIII Symbiosis International (Deemed University) Session Objectives By the end of this session, you will be able to:  Bitcoin Transaction Details & Types – Closely into some details about Bitcoin Transactions and Types.  Applications of Bitcoin Scripts – Understand some cases or problem statements where Bitcoin scripts can be applied during complex transactions.  Bitcoin Script  Structure of a Bitcoin Transaction  Bitcoin Script  Structure of a Bitcoin Transaction: Pay to Public-Key Hash  In , we have our data or operand.  Rest are called instructions or operators.  Then the stack operation is performed as shown below, Bitcoin Script  Structure of a Bitcoin Transaction UTXO Model Bitcoin Script  Structure of a Bitcoin Transaction UTXO Model  Bitcoin Script  Structure of a Bitcoin Transaction  : Input part of the transaction of the originator. That is the originator who is spending the money does signature and provides the public key.  : It is the public key of the recipient i.e. where the originator was the recipient (i.e. previous transaction).  Now, and OP_HASH160 are checked to verify if the originator of the current transaction having the sufficient money to spend or not.  : Input of current transaction.  Rest would be taken form output of previous transaction which the originator is trying to use.  The originator would add (script sig) and (scriptpubkey from previous transaction) to perform the current transaction.  Bitcoin Script  Bitcoin Script Instructions  Bitcoin Script  Bitcoin Scripts in Practice  Bitcoin Script  Bitcoin Script Instructions: Pay to Public-Key  Bitcoin Script  Bitcoin Script Instructions: Multisig M of N  Bitcoin Script  Bitcoin Script Instructions: Multisig M of N OP_CheckmultiSig Bitcoin Script  Pay to Script Hash:  Bitcoin Script  Bitcoin Script Instructions: Pay to Hash Script  Bitcoin Script  Proof of Burn:  Not specifying any recipient in the transaction.  No one is going to redeem that money.  Pay a small amount of Bitcoin to keep some data into the network as permanent.  E.g. Course Certificate.  Bitcoin Script  Proof of Burn: Bitcoin Script  Escrow Transactions: Bitcoin Script  Green Addresses: Bitcoin Script  Efficient Micro-Payments: Bitcoin Script  Efficient Micro-Payments: Thanks