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The requested URL /?p=371 was not found on this server.Additionally, a 404 Not Found error was encountered while trying to use an ErrorDocument to handle the request.Transaction Hex* Network* Decode Transaction Ready to broadcast?Click here to broadcast a raw transaction hex.You can also embed data into the Bitcoin blockchain.Recently, inspired by Ken Shirriff's and Bryce Neal's low level looks at the Bitcoin protocol, I set about constructing Bitcoin's much talked about multisignature transactions from scratch to understand their capabilities and limitations.Specifically, I used Bitcoin's Pay-to-ScriptHash (P2SH) transaction type to create a M-of-N multisignature transaction.The code to do it all in Go is available as go-bitcoin-multsig on GitHub and I'd like to go through how all of this works at the Bitcoin protocol level.We'll also step through creating and spending a multisig transaction to make it all clearer.In many ways, this is a follow up to Ken's amazing explanation of the Bitcoin protocol and constructing a Pay-to-PubKeyHash (P2PKH) transaction, so I won't cover things covered there in any great detail.
Please check out his post out first if you're completely new to the Bitcoin protocol.I'll be using go-bitcoin-multisig to generate keys and transactions along the way, explaining each step.If you'd like to follow along and create a multisig transaction yourself, you'll need to follow the simple build instructions for go-bitcoin-multisig.A typical Bitcoin address that looks like 15Cytz9sHqeqtKCw2vnpEyNQ8teKtrTPjp is actually a specific type of Bitcoin address known as a Pay-to-PubKeyHash (P2PKH) address.
trusted bitcoin wallet in indiaTo spend Bitcoin funds sent to this type of address, the recipient must use the private key associated with the public key hash specified in that address to create a digital signature, which is put into the scriptSig of a spending transaction, unlocking the funds.
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A Pay-to-ScriptHash (P2SH) Bitcoin address looks and works quite differently.A typical P2SH address looks like 347N1Thc213QqfYCz3PZkjoJpNv5b14kBd.A P2SH address always begins with a '3', instead of a '1' as in P2PKH addresses.This is because P2SH addresses have a version byte prefix of 0x05, instead of the 0x00 prefix in P2PKH addresses, and these come out as a '3' and '1' after base58check encoding.So what information is encoded in a P2SH address?
liberty x bitcoin reviewA specific unspent Bitcoin can actually have a whole range of different spending conditions attached to it, the most common being a typical P2PKH which just requires the recipient to provide a signature matching the public key hash.
riot games bitcoinThe Bitcoin core developers realized that people were looking at the capabilities of Bitcoin's Script language and seeing a whole array of possibilities about what spending conditions you could attach to a Bitcoin output, to create much more elaborate transactions than just P2PKH transactions.
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The core developers decided that instead of letting senders put in long scripts into their scriptPubKey (where spending conditions usually go), they would let each sender put in a hash of their spending conditions instead.These spending conditions are known as the redeem script, and a P2SH funding transaction simply contains a hash of this redeem script in the scriptPubKey of the funding transaction.The redeem script itself is only revealed, checked against the redeem script hash, and evaluated during the spending transaction.
bitcoin gdzie gracThis puts the responsibility of providing the full redeem script on to the recipient of the P2SH funds.This has a number of advantages: All of this will hopefully make more sense as we go ahead and craft a multisignature P2SH transaction.If you'd like to learn more, the Bitcoin developer guide has a full explanation of P2SH transactions.We will create a 2-of-3 multisignature address, where 2 digital signatures of 3 possible public keys are required to spend funds sent to this address.
First we need the hex representations of 3 public keys.There are lots of private/public key pair generators out there, but here we will use the one built into go-bitcoin-multisig.These keys are cryptographically secure to the limits of Go's crypto/rand package, which uses /dev/urandom/ on Unix-like systems and CryptGenRandom API on Windows: Which outputs for us: (your generated keys will be different, of course) So we have 3 public keys in hex ready to go: Key A: 04a882d414e478039cd5b52a92ffb13dd5e6bd4515497439dffd691a0f12af9575fa349b5694ed3155b136f09e63975a1700c9f4d4df849323dac06cf3bd6458cd Key B: 046ce31db9bdd543e72fe3039a1f1c047dab87037c36a669ff90e28da1848f640de68c2fe913d363a51154a0c62d7adea1b822d05035077418267b1a1379790187 Key C: 0411ffd36c70776538d079fbae117dc38effafb33304af83ce4894589747aee1ef992f63280567f52f5ba870678b4ab4ff6c8ea600bd217870a8b4f1f09f3a8e83 Now, we specify that we want a 2-of-3 address and provide our 3 public keys to generate our P2SH address: Let's breakdown that redeem script since that is where all the magic happens.
A valid multisignature redeem script, according to the Bitcoin protocol, looks like: And this is what our particular redeem script contains: From this redeemScript, our P2SH address is generated with two more steps: 1.Double hash our redeemScript (in pseudocode to show specific hash functions): 2.Base58check encode our redeemscriptHash with a prefix of 0x05 And that's how go-bitcoin-multisig gives us our P2SH address of 347N1Thc213QqfYCz3PZkjoJpNv5b14kBd.It contains a hashed redeem script with our chosen public keys and multisig script, but this will not be revealed publicly until the spending transaction, since it has been hashed.We would at this point pass this address to the sender who is funding our multisig address.To fund our multisig address now, we need a funding source of Bitcoins.go-bitcoin-multisig will fund from a standard P2PKH output, and we will need the input transaction id (txid), its matching private key, the amount to send (with the remaining balance taken as fees) and the destination P2SH address (which we just generated): Which outputs for us: Note that the generated transaction changes slightly each time because of the nonce in the digital signatures and this may change the total size of the transaction slightly each time.
Everything else should remain the same.Let's breakdown our funding transaction: The key difference compared to a typical P2PKH transaction is the scriptPubKey.We now have a scriptPubKey of the form: Remember that OP_HASH160 in Bitcoin Script is just a RIPEMD160(SHA256()) function.This is used to compare the redeem script provided in the spending transaction to the hash in the funding transaction.We'll see how the scriptPubKey here and the scriptSig of the spending transaction come together shortly.At this point, you can broadcast your own funding transaction and have it actually confirmed on the network.Don't forget to include a transaction fee (maybe ~10000 satoshi) so miners choose to include it in their blocks.The Blockchain.info pushtx tool or any other broadcast tool will work fine.The transaction above was broadcast and confirmed as txid 02b082113e35d5386285094c2829e7e2963fa0b5369fb7f4b79c4c90877dcd3d.Now we want to be able to spend our P2SH multisig funds.First let's generate another key pair to be our destination where we can send our multisig funds.
Now, we will need 2 of the 3 private keys of the public keys used to generate our P2SH address.We'll use our 1st and 3rd original generated private keys (any 2 of 3 would work, of course).Now, this is important: the order of keys does matter.We can obviously skip keys when our M required keys is less than our N possible keys, but they must show up in our signed spending transaction in the same order that they were provided in the redeem script.[1]go-bitcoin-multisig will sign the spending transaction in the order of keys given.To create our spending transaction, we need the input txid of the funding transaction, our amount (with the remaining balance going to transaction fees) and the destination.We must also provide the original redeem script.Remember, the destination P2SH address is a hash and doesn't reveal our redeem script.Only the recipient who created the P2SH address knows the full redeem script, and in this case, we are that recipient and can provide it: Again, the transaction will look slightly different each time because of the changing nonce in the digital signature, but everything else should look the same.