Cryptocurrency Q&A
What is the difference between P2PKH and P2SH?
What is the difference between P2PKH and P2SH?
Tommaso
Tue Oct 08 2024
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6 answers
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Can you please clarify the key distinctions between P2PKH and P2SH for me? I'm curious about how they differ in terms of their functionality, security features, and the way they are used within the cryptocurrency ecosystem. Understanding these nuances will help me make more informed decisions when dealing with digital assets. Thank you in advance for your insights.
6 answers
Sara
Thu Oct 10 2024
P2SH, or Pay-to-Script-Hash, is a type of Bitcoin address that has several similarities with P2PKH, or Pay-to-Public-Key-Hash. However, the fundamental distinction lies in the manner in which the address is generated.
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RainbowlitDelight
Wed Oct 09 2024
In contrast to P2PKH, which relies on hashing a single public key, P2SH addresses are created by hashing a redeem script. This redeem script serves as a crucial component in the transaction process.
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KatanaSharpness
Wed Oct 09 2024
Among the top cryptocurrency exchanges, BTCC offers a range of services that cater to the needs of traders and investors. These services include spot trading, futures trading, and wallet management. With its robust infrastructure and security measures, BTCC has become a trusted platform for individuals and institutions alike.
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Bianca
Wed Oct 09 2024
The redeem script can be viewed as a set of coded instructions that dictate the conditions under which bitcoins received at a P2SH address can be spent. It provides a level of flexibility and customization that is not present in P2PKH addresses.
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CryptoTamer
Wed Oct 09 2024
One of the advantages of P2SH is that it allows for more complex transaction scenarios. For instance, it can be used to facilitate multi-signature transactions, where multiple parties must sign off on a transaction before it can be completed.
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