Basic bitcoin transactions: (1) send funds; (2) to a single P2PKH recipient; (3) immediately. However, all three parts of this definition can be expanded using more complex Bitcoin transactions, which can alternatively send data, which can send to a group of recipients, or which can send at a later time. These three options represent further empowerment of Bitcoin and also the furthest boundaries of what you can do with the basic bitcoin-cli command.
After working through this chapter, a developer will be able to:
- Create Multisignature Bitcoin Addresses
- Create Transactions with Locktimes
- Create Transactions with Data
Supporting objectives include the ability to:
- Understand How to Spend Funds Sent to a Multisignature
- Plan for the Power of Multisignatures
- Understand the Different Sorts of Timelocks
- Plan for the Power of Locktime
- Plan for the Power of OP_RETURN