This post was first published on Medium. Read Part 2 here.
Previously, we have introduced two ways to delegate the right to spend one’s bitcoin: one at Script level, the other at transaction level.
We generalize the former to delegate to any script/smart contract, instead of a public key only. It allows one to authorize arbitrary smart contract to spend one’s bitcoin.
The full code is shown below:
Line 9 checks the delegated script is signed and thus authorized by the owner. Line 12 and 13 ensure the delegated script goes into the spending transaction’s output as the new locking script using OP_PUSH_TX, similar to the emulation of Pay to Script Hash (P2SH).
Watch: CoinGeek New York presentation, The Path to BitCoin Adoption: How to Turn the Entire Web into Bitcoin Apps
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.