Decoding #2: Locking & Unlocking Scripts 🔒🔓
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Locking and Unlocking Scripts define how transactions can be spent.
1- Locking Script
A script that specifies spending conditions for a transaction output.
Example:
OP_2 OP_ADD OP_4 OP_EQUALCondition: Add 2, check if it equals 4.
2- Unlocking Script
A script that provides the data to satisfy the conditions in the locking script.
Example:
OP_2Value: 2 satisfies the locking script condition above.
3- Execution
- Unlocking script runs first, followed by locking script.
- If the stack contains
TRUE (1), the transaction is valid.
To see how this works in an interactive way, visit https://bitcoindevs.xyz/decoding/locking-unlocking