Block Chain Technology Lecture VIII PDF

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