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improvements to Multisig addresses paragraphs (#182)
- as before "2-out-of-2" is more appropriate than "2-2" - "thus" is not what you wanted to express, "however" is what you wanted to say - added missing comma - etc
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@ -77,20 +77,20 @@ The later seem much easier to implement and have a couple of nicer properties.
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However, these "eltoo" channels require a new OP_CODE in the Bitcoin scripting language and can therefore currently not be implemented on top of the Bitcoin mainnet.
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However, these "eltoo" channels require a new OP_CODE in the Bitcoin scripting language and can therefore currently not be implemented on top of the Bitcoin mainnet.
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==== Multisig addresses
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==== Multisig addresses
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Payment channels are smart contracts that build on top of 2-2 multisignature addresses which will be spent by Segwit transactions.
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Payment channels are smart contracts that build on top of 2-out-of-2 multisignature addresses which will be spent by Segwit transactions.
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By knowing the properties of multisignature addresses you will be able to understand the exact construction of payment channels.
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By knowing the properties of multisignature addresses you will be able to understand the exact construction of payment channels.
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Thus at this point we will not review all the technical details about multisignature addresses and Segwit but just stick to the properties.
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However, at this point we will not review all the technical details about multisignature addresses and Segwit but just stick to the basic properties.
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If you know Bitcoin so well that you are familiar with those topics feel free to skip this section.
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If you know Bitcoin well enough to be familiar with those topics feel free to skip this section.
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[TIP]
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[TIP]
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====
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====
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A deep dive into the topic discussed here is presented in chapter 7 of Mastering Bitcoin which can be found at: https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch07.asciidoc.
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A deep dive into the topic discussed here is presented in chapter 7 of Mastering Bitcoin which can be found at: https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch07.asciidoc.
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Also, in case you are not familiar with P2PKH addresses and the basic format and scripting language of Bitcoin we encourage you to study chapter 6 of Mastering Bitcoin which can be found at: https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch06.asciidoc.
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Also, in case you are not familiar with P2PKH addresses and the basic format and scripting language of Bitcoin we encourage you to study chapter 6 of Mastering Bitcoin which can be found at: https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch06.asciidoc.
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There is also a video on Rene's youtube channel which dissects the Bits and Bytes of a transaction spending from a P2PKH output at: https://youtu.be/1n4g3eYX1UI
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There is also a video on Rene's YouTube channel which dissects the bits and bytes of a transaction spending from a P2PKH output at: https://youtu.be/1n4g3eYX1UI
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====
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====
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To allow escrow services and complex ownership configurations between several stakeholders, the Bitcoin scripting language provides multisignature addresses.
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To allow escrow services and complex ownership configurations between several stakeholders, the Bitcoin scripting language provides multisignature addresses.
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The general form of a locking script setting an M-of-N multisignature condition is:
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The general form of a locking script setting an M--out-of-N multisignature condition is:
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----
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M <Public Key 1> <Public Key 2> ... <Public Key N> N CHECKMULTISIG
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M <Public Key 1> <Public Key 2> ... <Public Key N> N CHECKMULTISIG
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@ -98,7 +98,7 @@ M <Public Key 1> <Public Key 2> ... <Public Key N> N CHECKMULTISIG
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where N is the total number of listed public keys and M is the threshold of required signatures to spend the output.
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where N is the total number of listed public keys and M is the threshold of required signatures to spend the output.
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A special case which is particularly interesting for us is a locking script setting a 2-of-2 multisignature condition.
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A special case which is particularly interesting for us is a locking script setting a 2-out-of-2 multisignature condition.
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It would look like this:
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It would look like this:
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----
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