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If you’re able to result in the system return “TRUE”, you can state what are the results towards the funds. If you can’t, you then don’t.
So, when you wish to blow your hard earned money, right here’s everything you do:
Your wallet software writes just a little computer system for you personally then delivers it to the bitcoin network. It effortlessly claims to your community: “Please run this program that is little simply provided you. Then please locate a scheduled program(“smart contract”? ) on the working platform using this ID for me personally. You just located” when you’ve done that, feed the output from my program into program. And this is a two step procedure: you offer your personal small system… as well as the production of this is given to the UTXO program that you would like to blow.
How you spend some money in Bitcoin would be to ask the working platform to operate a tiny computer system which you provide and feed the production of the system into the “smart contract” that is keeping the funds you intend to invest. When you can get this to second system run effectively, you’re able to invest the cash. The program you provide is “scriptSig” and the UTXO program is “scriptPubKey” in Bitcoin terminology. Your objective is always to provide a “scriptSig” whose production may be given into “scriptPubKey” to help make it return “TRUE”
What exactly are these small programs? Into the typical situation, they’re actually easy. The “UTXO program” just claims: “provide me having a signature that is digital demonstrates you own the key from the following Bitcoin target (and please additionally illustrate that you understand the general general public key that corresponds to your bitcoin target)”. (more…)