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Bitcoin protocol for developers at techfest

Alberto Gomez Toribio, profile picture
Alberto Gomez Toribio

This document summarizes elements of the Bitcoin protocol for developers. It describes the blockchain network protocol, how transactions are structured with inputs and outputs, and how Bitcoin scripting works to lock and unlock transactions based on signatures and public keys. Bitcoin scripting uses a stack-based approach to evaluate transactions in a non-Turing complete manner. Examples are provided of common script patterns and a more complex script for an odd/even betting contract.

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Alberto Gómez Toribio ( @gotoalberto ) Bitcoin protocol for developers Except where otherwise noted, this work is licensed under: http://creativecommons.org/licenses/by-nc-sa/3.0/ c_b_n_a Leganés 6 Febrero 2013
Except where otherwise noted, this work is licensed under: http://creativecommons.org/licenses/by-nc-sa/3.0/ c_b_n_a Leganés 6 Febrero 2013 Alberto Gómez @gotoalberto Alvaro Polo @apolovald “Software development enthusiast and aviation geek. Give me a higher-order function and I shall move the world.” “Vocational coder since childhood, he will annoy you with concepts like "monad" and "actor model" but gets the work done.” “Theoretical computer science believer by night, pragmatic ship-it developer by day. My brain runs on glucose, caffeine, general abstract nonsense and type theory.” “OpenData and Bitcoin Developer on fire. Great coders are today’s rock stars. That’s it!” Coinffeine.com Sebastián Ortega @_sortega Ximo Guanter A P2P Bitcoin exchange
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 What is the Bitcoin Protocol? ● Network protocol ● Transactions Mechanics ○ Blockchain mining ○ Fees and commitment rules ○ Sharing protocol: Gossip, Bittorrent, Gnutella... ○ Validations of the money source ○ Protocol to spend the money ○ Bitcoin Scripting
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Network protocol ● Blockchain ○ The Blockchain is a distributed ledger book ○ Create a Block in chain require a proof of work dc7047be… = SHA256(new_block_hash) ○ Forks are discarded, the most complex chain wins.
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Network protocol ● Other services: ○ The Blockchain is used to storage usernames. ○ Tweets are shared between users using a DHT protocol. ○ The older messages are discarded. ○ Incentive to generate blocks on Blockchain: Sponsored messages.
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Network protocol ● Colored Coins: ○ The Blockchain is used to storage key-value strings, as internet web domains / IP. ○ You can register a domain spending Namecoins. ○ The fee by register a name is decreased in time.
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …}
{ txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy Transaction Id, changes when a field is changed or tx is signed.
{ txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy Locktime, Block or Time up to which this tx cannot be broadcasted.
{ txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy TXid reference output for this input.
{ txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy Output number reference in previous tx
{ txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy ScriptSig which unlock the connected OutputScript
{ txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy Value to transfer. The difference with the summatory of inputs values is the fee.
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Number of sigs required to broadcast this transaction. The signers are included in the “addresses” array.
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Script. It defines how the money can be spent and by whom.
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …}
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Bitcoin Script ● It Allows to define how an output will be spent and by whom. ● Is a non Turing-Complete language which is evaluated as a Stack, from left to right. ● It just allows to write pure functions (without context) ● Is a non Turing-Complete language which is evaluated with a stack machine.
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIGbbba3f5… 172D5w7C… (Public Key)(Signature) (Public Key Hash)
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIGbbba3f5… 172D5w7C… (Public Key)(Signature) (Public Key Hash)
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIGbbba3f5… 172D5w7C… (Public Key)(Signature) (Public Key Hash)
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5…(Signature) OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG172D5w7C… (Public Key) (Public Key Hash)
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack (Signature) bbba3f5… OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG172D5w7C… (Public Key) (Public Key Hash)
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C… (Signature) (Public Key) OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C… (Signature) (Public Key) OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) 172D5w7C…(Public Key) OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) 172D5w7C…(Public Key) OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) cb1f48…(Public Key Hash) cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) cb1f48…(Public Key Hash) cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) cb1f48…(Public Key Hash) cb1f48…(Public Key Hash) OP_EQUALVERIFY OP_CHECKSIG
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) cb1f48…(Public Key Hash) cb1f48…(Public Key Hash) OP_EQUALVERIFY OP_CHECKSIG
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) OP_CHECKSIG
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) OP_CHECKSIG
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack (EMPTY) (EMPTY) SUCCESS!
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) <Sig> <PubKeyB> <7bb> <5aa> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) @_sortega Random diversion! <Sig> <PubKeyB> <7bb> <5aa> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <Sig> <PubKeyB> <7bb> <5aa> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <Sig> <PubKeyB> <7bb> <5aa> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <PubKey> <Sig> <7bb> <5aa> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <7bb> <PubKey> <Sig> <5aa> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <5aa> <7bb> <PubKeyB> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <Sig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <7bb> <5aa> <PubKeyB> <5aa> <7bb> OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <Sig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <7bb> <5aa> <PubKeyB> <aHash> <7bb> <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <Sig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <5aa> <7bb> <PubKeyB> <aHash> <7bb> <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <Sig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <5aa> <7bb> <PubKeyB> <7bb> OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <Sig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <7bb> <5aa> <PubKeyB> <7bb> <Sig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <bHash> <5aa> <PubKeyB> <7bb> <Sig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <bHash> <5aa> <PubKeyB> <7bb> <bHash> <Sig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <5aa> <PubKeyB> <7bb> <Sig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <5aa> <PubKeyB> <7bb> <Sig> <1>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <5> <PubKeyB> <7bb> <Sig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <7bb> <PubKeyB> <5> <Sig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <7bb> <PubKeyB> <5> <Sig> <1>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <7> <PubKeyB> <5> <Sig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <PubKeyB> <12> <Sig> <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <PubKeyB> <2> <12> <Sig> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <PubKeyB> <12> <2> <Sig> OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <PubKeyB> <0> <Sig> OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <PubKeyB> <Sig> (Standard Script) OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) ● Possible real use: ○ Random user to pay the transaction fees. ○ Help to define asymmetric scenario (secrets)
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● The oracle contract allow define how the money is spent including external state. ○ Allow to pay, only if an external condition is true, for example the result of a search in google, or the API SEUR response. ○ Allows to make reversible transactions.
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Example of a reversible payment using a Oracle ○ First you generate (in private) a multisig transaction as this: TX1 in { 1 BTC BOB } out { 1 BTC MULTISIGVERIFY BOB SAM } ○ Then you must obtain signed from counterpart: <SeurAPI(trackID) == ‘DELIVERED’> OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <BobPubKey> 2 OP_CHECKMULTISIGVERIFY } TX3 in { TX1[0] } out { 1 BTC <SeurAPI(trackID) == ‘RETURNED’> OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY } TX2 in { TX1[0] } out { 1 BTC
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution <SeurAPI(trackID) == ‘RETURNED’> OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY } TX2 in { TX1[0] } out { 1 BTC
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution <OracleSig> <SamSig> <SeurAPI(trackID) == ‘RETURNED’> OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution <SamSig> <SeurAPI(trackID) == ‘RETURNED’> OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack <OracleSig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution <SeurAPI(trackID) == ‘RETURNED’> OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack <SamSig> <OracleSig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack <SeurAPI(trackID) == ‘RETURNED’> <SamSig> <OracleSig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack <ScriptHash> <SamSig> <OacleSig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack <ScriptHash> <ExternalScriptHash> <SamSig> <OracleSig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack <SamSig> <OracleSig>
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution Stack SUCCESS!
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Fees? Micro Payment Channels! ● Transactions from a checkpoint without broadcast ● Allows commit money safely ● Allows to pay on demand by the second ● For example: decentralized WiFi Hotspots or subcontracting services in third world countries.
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM }
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2 IN {TX1[0] 1 BTC } OUT {0: 0,9 BTC BOB 0,1 BTC SAM }
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2 IN {TX1[0] 1 BTC } OUT {0: 0,8 BTC BOB 0,2 BTC SAM }
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2 IN {TX1[0] 1 BTC } OUT {0: 0,7 BTC BOB 0,3 BTC SAM }
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2 IN {TX1[0] 1 BTC } OUT {0: 0,6 BTC BOB 0,4 BTC SAM } BREAK!
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2 IN {TX1[0] 1 BTC } OUT {0: 0,6 BTC BOB 0,4 BTC SAM }
Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 THANKS! ● BigData is the current wave, P2P is the next. ● APIs and P2P are the next challenge on finantial world. ● Bitcoin technology and protocol is here to stay.

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Bitcoin protocol for developers at techfest

  • 1. Alberto Gómez Toribio ( @gotoalberto ) Bitcoin protocol for developers Except where otherwise noted, this work is licensed under: http://creativecommons.org/licenses/by-nc-sa/3.0/ c_b_n_a Leganés 6 Febrero 2013
  • 2. Except where otherwise noted, this work is licensed under: http://creativecommons.org/licenses/by-nc-sa/3.0/ c_b_n_a Leganés 6 Febrero 2013 Alberto Gómez @gotoalberto Alvaro Polo @apolovald “Software development enthusiast and aviation geek. Give me a higher-order function and I shall move the world.” “Vocational coder since childhood, he will annoy you with concepts like "monad" and "actor model" but gets the work done.” “Theoretical computer science believer by night, pragmatic ship-it developer by day. My brain runs on glucose, caffeine, general abstract nonsense and type theory.” “OpenData and Bitcoin Developer on fire. Great coders are today’s rock stars. That’s it!” Coinffeine.com Sebastián Ortega @_sortega Ximo Guanter A P2P Bitcoin exchange
  • 3. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 What is the Bitcoin Protocol? ● Network protocol ● Transactions Mechanics ○ Blockchain mining ○ Fees and commitment rules ○ Sharing protocol: Gossip, Bittorrent, Gnutella... ○ Validations of the money source ○ Protocol to spend the money ○ Bitcoin Scripting
  • 4. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Network protocol ● Blockchain ○ The Blockchain is a distributed ledger book ○ Create a Block in chain require a proof of work dc7047be… = SHA256(new_block_hash) ○ Forks are discarded, the most complex chain wins.
  • 5. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Network protocol ● Other services: ○ The Blockchain is used to storage usernames. ○ Tweets are shared between users using a DHT protocol. ○ The older messages are discarded. ○ Incentive to generate blocks on Blockchain: Sponsored messages.
  • 6. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Network protocol ● Colored Coins: ○ The Blockchain is used to storage key-value strings, as internet web domains / IP. ○ You can register a domain spending Namecoins. ○ The fee by register a name is decreased in time.
  • 7. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …}
  • 8. { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy Transaction Id, changes when a field is changed or tx is signed.
  • 9. { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy Locktime, Block or Time up to which this tx cannot be broadcasted.
  • 10. { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy TXid reference output for this input.
  • 11. { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy Output number reference in previous tx
  • 12. { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy ScriptSig which unlock the connected OutputScript
  • 13. { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy Value to transfer. The difference with the summatory of inputs values is the fee.
  • 14. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Number of sigs required to broadcast this transaction. The signers are included in the “addresses” array.
  • 15. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …} Script. It defines how the money can be spent and by whom.
  • 16. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Transactions Mechanic ● Transaction anatomy { txid : 5c084b… , locktime : 0, vin : [ { txid : feff4b… vout : 0 scriptSig { asm : d8f67a… …} …} …] vout : [ { value : 2.52 reqsigs : 1 scriptPubKey { asm : OP_DUP OP_HASH160 cb1f48… OP_EQUALSVERIFY OP_CHECKSIG …} addresses : [ 172D5w7C… ] …} …] …}
  • 17. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Bitcoin Script ● It Allows to define how an output will be spent and by whom. ● Is a non Turing-Complete language which is evaluated as a Stack, from left to right. ● It just allows to write pure functions (without context) ● Is a non Turing-Complete language which is evaluated with a stack machine.
  • 18. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
  • 19. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIGbbba3f5… 172D5w7C… (Public Key)(Signature) (Public Key Hash)
  • 20. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIGbbba3f5… 172D5w7C… (Public Key)(Signature) (Public Key Hash)
  • 21. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIGbbba3f5… 172D5w7C… (Public Key)(Signature) (Public Key Hash)
  • 22. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5…(Signature) OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG172D5w7C… (Public Key) (Public Key Hash)
  • 23. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack (Signature) bbba3f5… OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG172D5w7C… (Public Key) (Public Key Hash)
  • 24. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C… (Signature) (Public Key) OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
  • 25. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C… (Signature) (Public Key) OP_DUP OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
  • 26. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) 172D5w7C…(Public Key) OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
  • 27. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) 172D5w7C…(Public Key) OP_HASH160 cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
  • 28. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) cb1f48…(Public Key Hash) cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
  • 29. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) cb1f48…(Public Key Hash) cb1f48… OP_EQUALVERIFY OP_CHECKSIG (Public Key Hash)
  • 30. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) cb1f48…(Public Key Hash) cb1f48…(Public Key Hash) OP_EQUALVERIFY OP_CHECKSIG
  • 31. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) cb1f48…(Public Key Hash) cb1f48…(Public Key Hash) OP_EQUALVERIFY OP_CHECKSIG
  • 32. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) OP_CHECKSIG
  • 33. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack bbba3f5… 172D5w7C…(Public Key) (Signature) OP_CHECKSIG
  • 34. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 How Bitcoin Script works? Stack (EMPTY) (EMPTY) SUCCESS!
  • 35. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) <Sig> <PubKeyB> <7bb> <5aa> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
  • 36. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) @_sortega Random diversion! <Sig> <PubKeyB> <7bb> <5aa> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
  • 37. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <Sig> <PubKeyB> <7bb> <5aa> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
  • 38. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <Sig> <PubKeyB> <7bb> <5aa> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
  • 39. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <PubKey> <Sig> <7bb> <5aa> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
  • 40. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <7bb> <PubKey> <Sig> <5aa> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
  • 41. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <5aa> <7bb> <PubKeyB> OP_2DUP OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <Sig>
  • 42. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <7bb> <5aa> <PubKeyB> <5aa> <7bb> OP_HASH160 <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <Sig>
  • 43. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <7bb> <5aa> <PubKeyB> <aHash> <7bb> <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <Sig>
  • 44. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <5aa> <7bb> <PubKeyB> <aHash> <7bb> <aHash> OP_EQUALVERIFY OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <Sig>
  • 45. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <5aa> <7bb> <PubKeyB> <7bb> OP_SWAP OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <Sig>
  • 46. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack OP_HASH160 <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <7bb> <5aa> <PubKeyB> <7bb> <Sig>
  • 47. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <bHash> OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <bHash> <5aa> <PubKeyB> <7bb> <Sig>
  • 48. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack OP_EQUALVERIFY <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <bHash> <5aa> <PubKeyB> <7bb> <bHash> <Sig>
  • 49. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <1> OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <5aa> <PubKeyB> <7bb> <Sig>
  • 50. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack OP_LEFT OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <5aa> <PubKeyB> <7bb> <Sig> <1>
  • 51. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack OP_SWAP <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <5> <PubKeyB> <7bb> <Sig>
  • 52. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <1> OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <7bb> <PubKeyB> <5> <Sig>
  • 53. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack OP_LEFT OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <7bb> <PubKeyB> <5> <Sig> <1>
  • 54. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack OP_ADD <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF <7> <PubKeyB> <5> <Sig>
  • 55. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <PubKeyB> <12> <Sig> <2> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
  • 56. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <PubKeyB> <2> <12> <Sig> OP_SWAP OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
  • 57. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <PubKeyB> <12> <2> <Sig> OP_MOD OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
  • 58. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <PubKeyB> <0> <Sig> OP_IF OP_DUP OP_HASH160 <pubKeyAHash> OP_EQUALVERIFY OP_CHECKSIG OP_ELSE OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG OP_ENDIF
  • 59. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) Stack <PubKeyB> <Sig> (Standard Script) OP_DUP OP_HASH160 <pubKeyBHash> OP_EQUALVERIFY OP_CHECKSIG
  • 60. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 The sky is the limit! (Odd/Even Bet) ● Possible real use: ○ Random user to pay the transaction fees. ○ Help to define asymmetric scenario (secrets)
  • 61. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● The oracle contract allow define how the money is spent including external state. ○ Allow to pay, only if an external condition is true, for example the result of a search in google, or the API SEUR response. ○ Allows to make reversible transactions.
  • 62. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Example of a reversible payment using a Oracle ○ First you generate (in private) a multisig transaction as this: TX1 in { 1 BTC BOB } out { 1 BTC MULTISIGVERIFY BOB SAM } ○ Then you must obtain signed from counterpart: <SeurAPI(trackID) == ‘DELIVERED’> OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <BobPubKey> 2 OP_CHECKMULTISIGVERIFY } TX3 in { TX1[0] } out { 1 BTC <SeurAPI(trackID) == ‘RETURNED’> OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY } TX2 in { TX1[0] } out { 1 BTC
  • 63. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution <SeurAPI(trackID) == ‘RETURNED’> OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY } TX2 in { TX1[0] } out { 1 BTC
  • 64. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution <OracleSig> <SamSig> <SeurAPI(trackID) == ‘RETURNED’> OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack
  • 65. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution <SamSig> <SeurAPI(trackID) == ‘RETURNED’> OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack <OracleSig>
  • 66. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution <SeurAPI(trackID) == ‘RETURNED’> OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack <SamSig> <OracleSig>
  • 67. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution OP_HASH160 <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack <SeurAPI(trackID) == ‘RETURNED’> <SamSig> <OracleSig>
  • 68. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution <ExternalScriptHash> OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack <ScriptHash> <SamSig> <OacleSig>
  • 69. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution OP_EQUALSVERIFY <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack <ScriptHash> <ExternalScriptHash> <SamSig> <OracleSig>
  • 70. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution <OraclePubKey> <SamPubKey> 2 OP_CHECKMULTISIGVERIFY Stack <SamSig> <OracleSig>
  • 71. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Context: Oracles ● Execution Stack SUCCESS!
  • 72. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Fees? Micro Payment Channels! ● Transactions from a checkpoint without broadcast ● Allows commit money safely ● Allows to pay on demand by the second ● For example: decentralized WiFi Hotspots or subcontracting services in third world countries.
  • 73. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM }
  • 74. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2
  • 75. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2
  • 76. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2
  • 77. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2 IN {TX1[0] 1 BTC } OUT {0: 0,9 BTC BOB 0,1 BTC SAM }
  • 78. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2 IN {TX1[0] 1 BTC } OUT {0: 0,8 BTC BOB 0,2 BTC SAM }
  • 79. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2 IN {TX1[0] 1 BTC } OUT {0: 0,7 BTC BOB 0,3 BTC SAM }
  • 80. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2 IN {TX1[0] 1 BTC } OUT {0: 0,6 BTC BOB 0,4 BTC SAM } BREAK!
  • 81. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 Micro Payment Channels Mechanic TX1 IN {0: 1 BTC } OUT {0: 1 BTC MULTISIG BOB SAM } IN {TX1[0]: 1 BTC } OUT { 0 : 1 BTC BOB } LOCKTIME : 18 TX2 IN {TX1[0] 1 BTC } OUT {0: 0,6 BTC BOB 0,4 BTC SAM }
  • 82. Bitcoin Protocol for Developers #BitcoinT3F Leganés 6 Febrero 2013 THANKS! ● BigData is the current wave, P2P is the next. ● APIs and P2P are the next challenge on finantial world. ● Bitcoin technology and protocol is here to stay.