Bitcoin Scripting refers to the simple, stack-based programming language used to define the conditions for spending Bitcoin transactions. This non-Turing complete language enables a wide array of transaction types beyond basic transfers, such as multi-signature requirements and time-locks. It dictates how outputs can be redeemed by requiring specific data and cryptographic signatures to be provided as inputs. The script ensures that funds are spent only when predefined criteria are met, securing the network’s value transfer mechanism.
Context
News concerning Bitcoin Scripting often relates to protocol upgrades like Taproot, which expand its capabilities for complex smart contracts and privacy enhancements. Discussions frequently involve proposals for new opcodes or modifications that could unlock advanced functionalities for the Bitcoin network. The development of layer-2 solutions, such as the Lightning Network, heavily relies on Scripting’s foundational abilities to create off-chain transaction channels. Its limitations and potential for expansion remain a recurring topic in developer circles and crypto reporting.
The VTXO primitive virtualizes Bitcoin's UTXO model off-chain, enabling non-custodial instant settlement and composable DeFi applications directly on the most secure asset.
This research introduces novel zero-knowledge proof protocols to enable private proof-of-reserves and trustless light clients on Bitcoin, expanding its core capabilities.
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