From edf64916d042ef74e673f234a42f3335bd1cdfdb Mon Sep 17 00:00:00 2001 From: Shannon Appelcline Date: Tue, 16 May 2017 14:19:48 -0700 Subject: [PATCH] Update 7_1_Understanding_the_Foundation_of_Transactions.md --- 7_1_Understanding_the_Foundation_of_Transactions.md | 2 ++ 1 file changed, 2 insertions(+) diff --git a/7_1_Understanding_the_Foundation_of_Transactions.md b/7_1_Understanding_the_Foundation_of_Transactions.md index 6a87ef1..00d9604 100644 --- a/7_1_Understanding_the_Foundation_of_Transactions.md +++ b/7_1_Understanding_the_Foundation_of_Transactions.md @@ -136,3 +136,5 @@ These two transactions are _definitely_ locked in different ways. Bitcoin recogn ## Summary: Understanding the Foundation of Transactions Every Bitcoin transaction includes at least one unlocking script (`scriptSig`), which solves a previous cryptographic puzzle, and at least one locking script (`scriptPubKey`), which creates a new cryptographic puzzle. There's one `scriptSig` per input and one `scriptPubKey` per output. Each of these scripts is written in Bitcoin Script, a Forth-like language that further empowers Bitcoin. + +_What is the power of scripts?_ Scripts unlock the full power of Smart Contracts. With the appropriate opcodes, you can make very precise decisions about who can redeem funds, when they can redeem funds, and how they can redeem funds. More intricate rules for corporate spending, partnership spending, proxy spending, and other methodologies can all be encoded within a Script, and that Script can be used as the redemption condition for specific funds.