Ethereum: Pay to Script Hash Execution
The Ethereum blockchain is a decentralized, open-source that enables the creation and execution of smart contracts. Hash (P2SH) Execution (P2SH) Execution
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What is pay-to-script hash execution?
P2SH Execution is a technique used to create and validate transactions on the Ethereum blockchain. It allows users to pay
The ScriptSig Field of a Transaction Represents the Sender’s Public Key and Spending Transaction Signature. The funding scriptpubkey represents the recipient’s public key and a script that executes the Ethereum virtual machine (EVM) in response to the spent translation.
Combining Spending Transaction Script Sig and Funding Transaction Script Pubkey
ScriptPubkey, we get:
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This output is a compact representation of the P2sh execution process. Here’s What Each Part Represents:
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. In this case, it’s a simple script that outputs the value of the sent Funds.
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How P2SH Execution Works
P2SH Execution, Ethereum creates a new transaction object that contains:
- The Sender’s Public Key (ScriptSig)
- The Recipient’s Public Key (ScriptPubkey)
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The redeemed script is created by concatenating two scripts: a c. In this example, we have:
: The Sender's Public Key
: The Recipient's Public Key
These two scripts are concatenated with anop_hash160` Operation code that creates a hash of the redem script output. This hash digest is then included as part of the transaction.
Implications and Future Directions
P2SH Execution has several implications for the Ethereum Ecosystem:
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- It provides a new way to execute smart contracts in response to receive funds.
However, P2SH Execution Also Presents Some Challenges:
- It requires significant computer resources to process transactions at scale.
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As the Ethereum ecosystem continues to evolve, P2SH Execution is an important step forward