Advanced Bitcoin Scripting -- Part 1: Transactions & Multisig

This is the first part of a more technical talk where Andreas explores Bitcoin script, with examples from the 2nd edition of Mastering Bitcoin, focusing on the use of conditional statements, flow control, guard clauses and time locks. The examples will include advanced multi-signature scripts, hash time lock contracts and asymmetric revocable commitments. Then he answers questions about Bitcoin's quirky bugs, where Bitcoin differs from Ethereum at a scripting level, how SegWit works, how consensus rules change, and whether Bitcoin is more than just a currency.

Watch Part 2 here:    • Advanced Bitcoin Scripting -- Part 2: SegW...  

This talk took place at the San Francisco Bitcoin Developer (@SFBitcoinDev) meetup on April 3rd, 2017: https://www.meetup.com/SF-Bitcoin-Dev...

Review materials on the topics presented:
Chpt. 7: https://github.com/bitcoinbook/bitcoi...
Chpt. 12: https://github.com/bitcoinbook/bitcoi...

Chapters
2:17 The fundamentals of Bitcoin script
5:00 Bitcoin's operators
6:30 Creating transactions (P2PKH - Pay to Public Key Hash)
7:42 Public Key CheckSigs, security by obfuscating public keys
9:05 Redeeming the script
12:05 The RIPEMD160 hash operation
14:05 OP_EQUALVERIFY, OP_CHECKSIG, & the elliptic curve digital signature algorithm (ECDSA)
18:30 Summary
19:45 Illustrating scripts: Equal, EqualVerify, CheckSig, CheckVerify, CheckMultisig, CheckLockTimeVerify
23:02 Guard clauses
24:53 Script-based timelocks
26:50 Flow control statements, interactive artificial intelligence
28:35 If, Else, EndIf
33:55 Unlocking scripts, what conditional flows do in Bitcoin
35:44 1-of-2 multi-signature script
38:28 1-of-2 multi-signature script with guard clause
41:30 2-of-3 multi-signature script
43:20 2-of-3 multi-signature script with timelock guard clause
44:42 BIP-113, how time is referenced in Bitcoin
46:58 Backup clause & other nuances in multi-signature schemes
52:36 Game theory, complexity from simplicity
53:45 2-of-3 multi-signature script, unlocking

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Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin.

Follow on Twitter: @aantonop   / aantonop  
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Mon...

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bi...

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitc...

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Music: "Unbounded" by Orfan (  / orfan  )
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
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