Topic: P2WSH and P2SH (Read 220 times)
Still going through this,still trying to find my way around the abstractions
Yes, it's possible. What can be done with P2SH and P2WSH is also possible with P2TR.
In this case does it means it use the P2MS locking Script too because I'm so surprised it could be used in a multisig wallet The locking script is different. If you try to create P2TR multi-sig address with help of Miniscript and descriptor, you need to use multi_a(k,key1,...,keyN) rather than multi(k,key1,...,keyN).
Yes, it's possible. What can be done with P2SH and P2WSH is also possible with P2TR.
Here's an addition from me. P2TR or Taproot exist today which allow lower transaction size and slightly better privacy, so there's no strong reason to keep using P2SH and P2WSH unless you can't find software which use P2TR (with specific spending condition you impose) or you perform transaction with someone else who use software which doesn't support P2TR.
However, I have a question although I haven't read much about P2TR but can it have co-signers just like a multisig or maybe I'm just getting it all wrong
Yes, it's possible. What can be done with P2SH and P2WSH is also possible with P2TR.
The old multisig that was used by so-called P2SH and P2MS addresses had some serious limitations in the number of co-signers you could have. I think it was a maximum of three or something.
I believe 3 is standard limitation otherwise you can use up to 20 for n in P2MS and only 15 in P2SH (assuming compressed pubkeys)Quote
But for segwit addresses (P2WSH in other words), the limit has increased significantly to about a thousand co-signers or close to that.
For witness version 0 the n value is still limited to 20 maxhttps://github.com/bitcoin/bitcoin/blob/bd5d1688b4311e21c0e0ff89a3ae02ef7d0543b8/src/script/interpreter.cpp#L1116
Why not talk about the other address formats as well?
Only talked about those because they "can receive hash of a multisig reedem script" just as I've been correct maybe I can create another thread talking about it if I learn more about themThank you for this
Firstly, both Pay 2 Witness Script Hash ( P2WSH) and Pay 2 Script Hash (P2SH) are Multisig type and they contain the Pay 2 Multisig (P2MS) locking Script
They aren't "multisig type", both of these script hashes can use hash of a multi-sig redeem script as well as hash of any other redeem script type.Quote
the idea of P2WSH was to replace P2SH as it's much more standard
Being standard is not a spectrum, a script is either standard or not.P2WSH is not exactly a replacement either even though it may look like one. It is the SegWit way of using script hash in locking scripts.
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Noted sir.. and correctedThe old multisig that was used by so-called P2SH and P2MS addresses had some serious limitations in the number of co-signers you could have. I think it was a maximum of three or something. But for segwit addresses (P2WSH in other words), the limit has increased significantly to about a thousand co-signers or close to that. That is why everybody is using P2WSH when they want to use Multisig, as the old address format was way too restrictive about this.
Here's an addition from me. P2TR or Taproot exist today which allow lower transaction size and slightly better privacy, so there's no strong reason to keep using P2SH and P2WSH unless you can't find software which use P2TR (with specific spending condition you impose) or you perform transaction with someone else who use software which doesn't support P2TR.
However, I have a question although I haven't read much about P2TR but can it have co-signers just like a multisig or maybe I'm just getting it all wrong
Soon to be updated with silent payment addresses.
Being standard is not a spectrum, a script is either standard or not.
Maybe some nodes treat it as standard, maybe some don't! The old multisig that was used by so-called P2SH and P2MS addresses had some serious limitations in the number of co-signers you could have. I think it was a maximum of three or something.
Correct, 3. The serious limitation was that P2MS didn't have an address type, it was plain script. This practically means no reputable wallet software can send to P2MS. You need to manually construct it. Recipe for disaster. All Corrections and additions are welcome
Here's an addition from me. P2TR or Taproot exist today which allow lower transaction size and slightly better privacy, so there's no strong reason to keep using P2SH and P2WSH unless you can't find software which use P2TR (with specific spending condition you impose) or you perform transaction with someone else who use software which doesn't support P2TR.
Firstly, both Pay 2 Witness Script Hash ( P2WSH) and Pay 2 Script Hash (P2SH) are Multisig type and they contain the Pay 2 Multisig (P2MS) locking Script
The old multisig that was used by so-called P2SH and P2MS addresses had some serious limitations in the number of co-signers you could have. I think it was a maximum of three or something. But for segwit addresses (P2WSH in other words), the limit has increased significantly to about a thousand co-signers or close to that. That is why everybody is using P2WSH when they want to use Multisig, as the old address format was way too restrictive about this.
Firstly, both Pay 2 Witness Script Hash ( P2WSH) and Pay 2 Script Hash (P2SH) are Multisig type and they contain the Pay 2 Multisig (P2MS) locking Script
They aren't "multisig type", both of these script hashes can use hash of a multi-sig redeem script as well as hash of any other redeem script type.Quote
the idea of P2WSH was to replace P2SH as it's much more standard
Being standard is not a spectrum, a script is either standard or not.P2WSH is not exactly a replacement either even though it may look like one. It is the SegWit way of using script hash in locking scripts.
Why not talk about the other address formats as well?
Bech32
Native Segwit, starts with bc1, lower fees than compatible segiwt (3)
Taproot
Bech32m format , stars with bc1p
Full list here
https://en.bitcoin.it/wiki/List_of_address_prefixes
Bech32
Native Segwit, starts with bc1, lower fees than compatible segiwt (3)
Taproot
Bech32m format , stars with bc1p
Full list here
https://en.bitcoin.it/wiki/List_of_address_prefixes
Bip16 P2WSH and Bip141 P2SH
Firstly, both Pay 2 Witness Script Hash ( P2WSH) and Pay 2 Script Hash (P2SH) and they contain the Pay 2 Multisig (P2MS) locking Script
Bip16 P2WSH and Bip141 P2SH
Firstly, both Pay 2 Witness Script Hash ( P2WSH) and Pay 2 Script Hash (P2SH)
Here's a quick overview of Multisig wallet
P2WSH and P2SH address
P2SH was used before the introduction of Seqwit which also brought about the use of P2WSH,the idea of P2WSH was to replace P2SH as it's much more standard
P2SH address starts with 3 and usually have 34 chars
Testnet starts with 2
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P2WSH address starts with bc1q just like the P2WPKH both are segwit version 0 but P2WSH is 62 chars.
Testnet starts with tb1q
P2WSH and P2SH Unlocking Script
The Unlocking Script is always used to unlock the output of their transaction.
The Script sig contains the Unlocking Script(I.e the Unlocking code & the Reedem Script) for P2SH
The Witness field Contains the Unlocking Script(Witness script)for P2WSH which needs be hashed using SHA-256 to attempt the Script Hash
Ref == https://learnmeabitcoin.com
Here's the little I've learned about them so far as I have been reading throughout my stay on the forum
All Corrections and additions are welcome
[Addit]
P2TR
P2TR or Taproot exist today which allow lower transaction size and slightly better privacy, so there's no strong reason to keep using P2SH and P2WSH unless you can't find software which use P2TR (with specific spending condition you impose) or you perform transaction with someone else who use software which doesn't support P2TR.
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