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Chapter Six: Expanding Bitcoin Transactions

Basic bitcoin transactions: (1) send funds; (2) to a single P2PKH recipient; (3) immediately. However, all three parts of this definition can be expanded using more complex Bitcoin transactions, which can alternatively send data, which can send to a group of recipients, or which can send at a later time. These three options represent further empowerment of Bitcoin and also the furthest boundaries of what you can do with the basic bitcoin-cli command.

Objectives for This Section

After working through this chapter, a developer will be able to:

  • Create Multisignature Bitcoin Addresses
  • Create Transactions with Locktimes
  • Create Transactions with Data

Supporting objectives include the ability to:

  • Understand How to Spend Funds Sent to a Multisignature
  • Plan for the Power of Multisignatures
  • Understand the Different Sorts of Timelocks
  • Plan for the Power of Locktime
  • Plan for the Power of OP_RETURN

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