Advanced Bitcoin Scripting -- Part 1: Transactions & Multisig

This is the first part of a more technical talk where Andreas explores Bitcoin script, with examples from the 2nd edition of Mastering Bitcoin, focusing on the use of conditional statements, flow control, guard clauses and time locks. The examples will include advanced multi-signature scripts, hash time lock contracts and asymmetric revocable commitments. Then he answers questions about Bitcoin's quirky bugs, where Bitcoin differs from Ethereum at a scripting level, how SegWit works, how consensus rules change, and whether Bitcoin is more than just a currency. Watch Part 2 here:    • Advanced Bitcoin Scripting -- Part 2: SegW...   This talk took place at the San Francisco Bitcoin Developer (@SFBitcoinDev) meetup on April 3rd, 2017: https://www.meetup.com/SF-Bitcoin-Dev... Review materials on the topics presented: Chpt. 7: https://github.com/bitcoinbook/bitcoi... Chpt. 12: https://github.com/bitcoinbook/bitcoi... Chapters 2:17 The fundamentals of Bitcoin script 5:00 Bitcoin's operators 6:30 Creating transactions (P2PKH - Pay to Public Key Hash) 7:42 Public Key CheckSigs, security by obfuscating public keys 9:05 Redeeming the script 12:05 The RIPEMD160 hash operation 14:05 OP_EQUALVERIFY, OP_CHECKSIG, & the elliptic curve digital signature algorithm (ECDSA) 18:30 Summary 19:45 Illustrating scripts: Equal, EqualVerify, CheckSig, CheckVerify, CheckMultisig, CheckLockTimeVerify 23:02 Guard clauses 24:53 Script-based timelocks 26:50 Flow control statements, interactive artificial intelligence 28:35 If, Else, EndIf 33:55 Unlocking scripts, what conditional flows do in Bitcoin 35:44 1-of-2 multi-signature script 38:28 1-of-2 multi-signature script with guard clause 41:30 2-of-3 multi-signature script 43:20 2-of-3 multi-signature script with timelock guard clause 44:42 BIP-113, how time is referenced in Bitcoin 46:58 Backup clause & other nuances in multi-signature schemes 52:36 Game theory, complexity from simplicity 53:45 2-of-3 multi-signature script, unlocking RELATED: Bitcoin: Where the Laws of Mathematics Prevail -    • Bitcoin: Where the Laws of Mathematics Pre...   The rules of Bitcoin (part 1) -    • Bitcoin Q&A: The Rules of Bitcoin (Part 1)   The rules of Bitcoin (part 2) -    • Bitcoin Q&A: The Rules of Bitcoin (part 2)   Forkology: A Study of Forks for Newbies -    • Forkology: A Study of Forks for Newbies   Irreversibility and consumer protection -    • Bitcoin Q&A: Irreversibility and Consumer ...   Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin. Follow on Twitter: @aantonop   / aantonop   Website: https://antonopoulos.com/ He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters. THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Mon... MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bi... [NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitc... Subscribe to the channel to learn more about Bitcoin & open blockchains! If you want early-access to talks and a chance to participate in a monthly LIVE Q&A with Andreas, become a patron:   / aantonop   Music: "Unbounded" by Orfan (  / orfan  ) Outro Graphics: Phneep (http://www.phneep.com/) Outro Art: Rock Barcellos (http://www.rockincomics.com.br/) Join the aantonop Channel: https://aantonop.io/joinaantonopyt