bitcoin address description

are authorized to collect the values of referenced outputs, Bitcoin uses a custom Forth-like scripting system. Value is the number of Satoshi (1 BTC 100,000,000 Satoshi) that this output will be worth when claimed. It is possible to design more complex types of transactions, and link them together into cryptographically enforced agreements.

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bitcoin address description

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Input, an input is a reference to an output from a previous transaction. C sends 101 BTC to D, and he needs to send himself some change. If you are using the standard client, all your addresses are fully under your control and are safe to receive transactions. Addresses can be created that require a combination of multiple private keys. They only receive funds, and you do not send "from" an address at any time. Current standards for message signatures are only compatible with "version zero" bitcoin addresses (that begin with the number 1). A significant percentage of Bitcoin addresses are only 33 characters, and some addresses may be even shorter. Addresses can both be used both for sending and receiving transactions. Output An output contains instructions for sending bitcoins. Pay-to-script-hash provides a means for complicated transactions, unlike the Pay-to-pubkey-hash, which has a specific definition for scriptPubKey, and scriptSig. The actual requirement (number of private keys needed, their corresponding public keys, etc.) that must be satisfied to spend the funds is decided in advance by the person generating this type of address, and once an address is created, the requirement cannot be changed without. See the dedicated article on " from address " for more details.

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bitcoin address description