How does P2WSH enhance the security of digital currency transactions?
kronosaurusJan 20, 2022 · 3 years ago3 answers
Can you explain in detail how P2WSH (Pay to Witness Script Hash) enhances the security of digital currency transactions?
3 answers
- Jan 20, 2022 · 3 years agoP2WSH is a Bitcoin transaction type that improves security by separating the witness data from the transaction data. This allows for smaller transaction sizes and reduces the risk of certain types of attacks. By using P2WSH, digital currency transactions become more secure and efficient.
- Jan 20, 2022 · 3 years agoP2WSH enhances the security of digital currency transactions by implementing a script that requires the spender to provide a witness script that matches the script hash. This ensures that only authorized parties can spend the funds and prevents unauthorized access to the digital currency.
- Jan 20, 2022 · 3 years agoP2WSH is a feature introduced in the Bitcoin network that enhances the security of digital currency transactions. It allows for the separation of witness data, which includes cryptographic signatures, from the transaction data. This separation reduces the risk of signature malleability attacks and enhances the overall security of digital currency transactions.
Related Tags
Hot Questions
- 98
How can I protect my digital assets from hackers?
- 83
What is the future of blockchain technology?
- 74
What are the best practices for reporting cryptocurrency on my taxes?
- 43
How can I buy Bitcoin with a credit card?
- 42
How does cryptocurrency affect my tax return?
- 37
What are the best digital currencies to invest in right now?
- 31
What are the advantages of using cryptocurrency for online transactions?
- 11
How can I minimize my tax liability when dealing with cryptocurrencies?