[[BSV History]] [[BSV tech]] "Pay-to-Script-Hash (P2SH) is …

bridget ·

[[BSV History]] [[BSV tech]]
"Pay-to-Script-Hash (P2SH) is a soft fork in the Bitcoin Core protocol coded by Gavin Andresen and merged as [BIP16] in 2012. It is lightly used except to manage multisig transactions in Bitcoin Core, Cash and SV (until the return to Genesis.) However, it can also be used to initiate payments that hide output scripts at the time they are created, which tampers with bitcoin’s fundamental design as a complete ledger of truth.
Another differentiator that P2SH introduced is the developer-centric precedent of Bitcoin Core’s leadership ethos. BIP16 helped establish that contentious upgrades to bitcoin could be added to the repo via “soft fork.” In contrast to a hard fork that requires far more network cooperation to implement, a soft fork can be rolled out more simply by protocol developers who want to accomplish their own goals even if they are opposed by the miners. The successful merging of P2SH into Bitcoin Core helped pave the way for “Replace By Fee” (RBF) and then the Segwit network take-over in the following years."
(from: https://coingeek.com/is-someone-going-to-steal-greg-maxwells-bsv/)

Replies

bridget ·

one of the most common idioms I say is "the devil is in the details" because it usually is.