Published on: 2012-01-29T14:40:01+00:00
During a conversation on January 29, 2012, Gavin Andresen and Amir Taaki discussed an alternative design for multisig addresses. The proposed method involved using a different approach than CHECKMULTISIG to create the "m of n" condition. Instead, it would include a byte indicating the transaction type and the 20-byte hashes of each public key involved. While this solution could potentially address issues with maximum-sigops-per-block, it had drawbacks such as the need for a new bitcoin address for every new transaction type and resulting in long addresses. In an email exchange, Amir Taaki questioned how a specific bitcoin address could be so small. Gavin Andresen explained that this was due to the alternative design for multisig addresses, which did not use CHECKMULTISIG and instead included a byte indicating the transaction type and the 20-byte hashes of each public key involved. This design aimed to overcome issues with maximum-sigops-per-block. However, the impracticality of creating a new bitcoin address for each transaction type deterred its widespread adoption despite its advantages.
Updated on: 2023-08-01T02:55:29.062079+00:00