CRYPTOCURRENCY

Ethereum: Pay to Script Hash Execution

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Ethereum: Pay to the execution of the script hash

Blockchain Ethereum is a decentralized open source platform that allows the creation and implementation of intelligent contracts. One of Ethereum’s most important features is the application of Hash-Script-Script (P2SH), which allows users to send cryptocurrency transactions and accept validation functions and internal transactional script.

In this article, we plunged into the characteristics of P2SH implementation in Ethereum and explore how it works and its consequences in the broader ecosystem.

What is the implementation of script hash?

P2SH execution is a technique used to create and validate transactions on the Ethereum blockchain. This allows users to pay for transactions using scripts by performing intelligent contracts, not traditional payment methods such as fiduciary currency or digital currencies.

The transaction script represents the sender’s public key and the signing of the expenses transaction. The scriptpkey financing transaction is the recipient’s public key and a script that performs the Ethereum virtual machine (EVM) as a response to the burned transaction.

Combination of expenditure transaction script and the public financing transaction script

Combining expense transaction scripts and transaction transaction transaction transaction transaction transaction transaction transaction transaction transaction transaction transaction transaction:

`

…

`

This output is a compact representation of the P2SH execution process. Here is what the individual parts represent:

  • : The operational code that indicates that we create a transaction.

  • and : signature of the sender’s public key and the expenses transaction.

  • : The script that is performed when the burnt transaction is paid. In this case, this is a simple script that emits the value of the funds sent.

  • : the script output hash resell and associated hash digestion.

How to execute P2SH is working

When the user starts a transaction using P2SH execution, Ethereum creates a new transaction object containing:

  • Sending Public Key (Scriptsig)

2.

  • A Salvador script that performs the EVM in response to the burnt transaction.

The alternating script is created by combining two scripts:ae c. In this example:

  • : The sender is a public key

  • `: the recipient’s public key

These two scripts are connected to an “OP_HASH160” operational code that creates the revelation script output hash. This hash digestion is then included as part of the transaction.

The consequences and future directions

The implementation of P2SH has many consequences for the Ethereum ecosystem:

  • This allows you to create decentralized and non -reliable transactions without depending on third party payment mediators or payment processors.

  • This allows the safer and more efficient use of cryptographic keys, reducing the risk of important commitment attacks.

  • This offers a new method of implementing intelligent contracts in response to the funds received.

However, P2SH implementation also has some challenges:

  • Requires significant computing sources for transaction scale processing.

  • You can introduce additional transaction costs due to rescue scripts and the need for hash generation.

As the Ethereum ecosystem develops even more, we can expect scalability, safety and usability to improve. P2SH implementation is an important step in this direction, but it will probably require continuous innovation and try to fully exploit its potential.

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