What Two Main Components Does a Typical Scriptsig Contain?
A typical scriptSig, used to unlock a P2PKH output, contains two main components. The first is the digital signature, created by the private key owner, which authorizes the transaction.
The second is the public key corresponding to the private key used for signing. The scriptPubKey uses the public key to verify the signature and ensure the funds are being spent by the rightful owner.
Glossar
Private Key
Ownership ⎊ The private key is the definitive proof of non-custodial ownership over the associated cryptocurrency or the collateral securing a derivative position.
Public Key
Address ⎊ The public key mathematically derives the wallet address used to receive funds, collateral, or option contract payouts on the blockchain.
ScriptSig
Execution ⎊ ScriptSig represents the unlocking script, a component of a Bitcoin transaction detailing the conditions required to spend previously received Bitcoin.
Cryptographic Operation
Procedure ⎊ This encompasses the mathematical routines executed by nodes or wallets to perform essential cryptographic functions required for network security and transaction validation.
ScriptSig Components
Validation ⎊ Within cryptocurrency and derivative contexts, ScriptSig components represent a crucial element of transaction validation, ensuring adherence to predefined rules before a transaction is deemed legitimate.