Pay-to-Script-hash, or P2SH, are extension of the multisignature idea but reducing the burden on the Bitcoin infrastructure in terms of storage required.A common 2-of-3 multisignature transaction can take up to five times as much space as a simple pay to address or pay to public key transaction.They also reduce the complexity of the encoding, and shift the burden in terms of fees from the sender to the recipient – after all it’s their request to have the complexity in the conditions for the release of the funds.This is done by transferring the script used to spend the transactions to the and making the hold a hash of the script.This means that a new address has been created – a script address.Script addresses are not made through the usual process of elliptic curve cryptography but are instead the hash of the of a multi signature transaction.A script address is appended with a value of five before being hashed, resulting in hashed script addresses starting with the number 3 – remember that standard Bitcoin addresses start with a 1 – with other variances for the testnet.

Structuring P2SH transactions should be done with care as an error can make the transaction unspendable.Another important point is that the details of the transaction script are not stored in the blockchain, only the hash, and therefore the creator of the transaction must keep a copy of the script or remember the route to generate the specific hash.Traditional bookmaking in eSports is impossible.buy bitcoin xtWith over 500 in-play variables for some of the games, statistical and mathematical models fail to get the full picture.bitcoin block generation calculatorUltraPlay eSports created unique approach by combining traditional sportsbook techniques with innovative game analysis.ethereal wings of a dragonfly

This evolution in bookmaking gave us the edge needed to address this emerging market.Our designated eSports traders team provide the widest eSports market coverage, highest number of pre-match odds and unprecedented number of in-play markets.See more New - Free eSports odds New - ODDS.GG By the numbers 15 Games Widest selection of competitive games.pros and cons bitcoin mining2500+ Events/month Striving to provide the quickest and best prices.The number of events expands as quick as the whole eSports scene.bitcoin fork blockchain50+ Markets Extravagant selection of markets created with the mindset of a gamer.litecoin price chart eur1000+ IN-Play Events Dedicated eSports traders provide the largest variety of events on all the games.7th bitcoin miner

eSports ODDS UltraPlay OUTLAWS talent academy UltraPlay TWITCH CHANNELThe Scriptpubkey is the puzzle set to a transaction in order for it to be solved and the script sig is the solution to the puzzle that allows it to be spent.Historically the Scriptpubkey was named so as it contained the public key or address to be spent from – i.e.the address the transaction was locked to.The scriptsig was called so due to its need to contain the signature – i.e.bitcoin etf trustthe private key of the address that wants to spend and to which the address in the scriptpubkey was locked to.7th bitcoin minerThe Bitcoin transaction script language is a stack based execution language – to layman this is a very basic form of language that doesn’t contain loops and is Turing incomplete (i.e.can’t with an unlimited amount of memory, processing power and time solve everything) – it is designed for one purpose.

The stack based execution language has a few important benefits such as its simplicity and minimal processing.The script language processes from left to right.Numbers are pushed onto the stack and then operated acted on by the next function.There are conditional operators which give the result true or false which in the case of validating a transaction are true if the signature is valid.The below example is the process of a simple pay to public key hash transaction.The above transaction shows the stack based operating procedure for resolving the transaction – i.e.unlocking it and spending it.To see the process in more detail see our different types of bitcoin transactions and the P2PKH – pay to public key hash transaction type.The owner of bitcoin betting site Just-Dice, a rival to SatoshiDice, had a severe moment of panic a few days ago when a user taking advantage of a human error caused him to lose 1,300 bitcoins (around $116,090 at the time of writing).Known only as 'dooglus', the owner revealed on the Bitcoin Talk forum that he had made something of a colossal mistake.

What happened was this: a player won a load of bitcoins on the site and asked to withdraw them, dooglus paid out, but forgot to remove the balance from the user's Just-Dice account.The user then gambled - and lost - the bitcoins that were left in his account and dooglus covered the loss out of his own pocket.When he realised his mistake, dooglus contacted the user, who claimed he had left his laptop in a café and that someone else logged onto his Just-Dice account and gambled the money.I'll leave it up to you to decide whether you believe that or not.What has been most interesting about this whole mishap is the support given to dooglus by the community of Just-Dice users, with some pledging to donate all their future winnings to dooglus to get him back in the black."The response from the Just-Dice community was so supportive.It was because of the community support and encouragement that I was able to turn this into a non-event.The community, at all times, seemed to have my best interests at heart and apart from a few 'trolls', the response was heartening," dooglus told CoinDesk.

The community helped him to realise that the 1,300 BTC the user lost should be thought of as fake bitcoins.When the user lost, those invested in the site or 'bankroll' thought they had gained 1,300 BTC, however, these coins were fake, so there was actually no gain to be made.With this in mind, dooglus simply rolled back the user's bets that were made with the 1,300 'fake' BTC and reclaimed the bitcoins that he paid out of his own pocket.He said he feels he handled the incident poorly, but, regardless of this, very few people have since decided to leave the site."Those who did leave voiced concerns regarding future challenges and my ability to deal with them.These concerns are being taken very seriously as I work to improve my abilities to better 'manage' the site.Overall, the site is still running with a high investment number, which points to continued faith in the idea of Just-Dice."Dooglus said the incident has taught him to automate as much as possible and take time when making decisions, considering carefully any actions that may affect the site.

Just-Dice has become phenomenally popular since it went live on 20th June, with over 429,600 BTC ($38.4 million) being wagered in around 31 million bets."To be honest, the huge surge took us by surprise.I think it is an innovative idea that hit the market at just the right time.People were tired of waiting for other sites to make promised improvements and changes, and were keen for something new," explained dooglus.He said he created Just-Dice because he wanted to see a community-type site that allows people to be equal on many fronts, unlike other gambling sites.He had been playing around with the idea for over a year until he decided the time was right to get it out there.Dooglus believes Just-Dice is different in many ways to other bitcoin betting sites, for example, it is off the block chain, gives instant results and large maximum profit per bet with a small house edge.It also offers the opportunity to invest instead of/as well as gamble."People seem to enjoy the chat and camaraderie as well, and can watch others betting and cheer for or against the 'whales'."

The real-time nature of the site makes it pretty darn addictive, you can see how much people are betting and how much they win or lose.The majority of users are just placing small bets here and there, but the whales do come along now and then to really steal the show.So far, the largest amount lost on one bet was a whopping 640 BTC and the biggest win was 303 BTC.When a new user visits the site for the first time, an account is automatically created.If that person has cookies enabled, they'll automatically be logged in each time they visit from the same computer and browser.If they want to log on using a different browser or computer, they can use a secret link, but this needs to be kept safe as it can be used to access their account balance.This is similar to the system used by Instawallet, which is still in something of a pickle after hackers gained access to all of its users' hidden urls.Dooglus decided to use this system to make it easy for new users to test out the site, but recommends regular users take extra precautions.

"We offer username/password sign ups and would recommend that anyone depositing take advantage of this.We also offer two-factor authentication via the Google Authenticator app for your smart phone," he explained.A few days ago, the owner of Satoshi Dice announced the bitcoin betting site had been sold for 126,315 BTC (around $11.5 million).It's not yet known who the buyer is, but dooglus speculates they could be intending to try to compete directly with Just-Dice by adding similar features and options - off-block chain betting, for instance.Dooglus said individuals asking to buy part of his site have approached him, but no individual or company has made a formal offer to acquire it."I've made it clear that I am not interested at this time," he explained.So, what next for Just-Dice?Dooglus said a site redesign is currently in progress and he is working through a long list of suggestions from within the Just-Dice community.There are a number of things he and his colleague 'Deb' want to change about the site, but their first and prevailing motivations are keeping users happy and keeping the community spirit alive.