Author: Luke-Jr 2012-01-29 14:40:01
Published on: 2012-01-29T14:40:01+00:00
The conversation on Sunday, January 29, 2012, between Gavin Andresen and Amir Taaki, revolved around a proposed alternative design for multisig addresses that would utilize a different method than CHECKMULTISIG to create the "m of n" condition. The proposed method would put a byte giving the type of transaction and the 20-byte hashes of each of the public keys involved. This method did not gain much traction due to the need for a new 'type' of bitcoin address every time a new transaction type was required. Additionally, it resulted in long addresses. However, if there were ever a problem with maximum-sigops-per-block, these types of transactions could be used instead and hidden behind the P2SH. Hence, the one benefit of BIP 16 over 17 has been resolved.
Updated on: 2023-06-05T02:01:40.881382+00:00