In figure 1 of the original paper by satoshi, why include the public key of the next owner in the hash?

1 Answer 1


The public key belongs to, and identifies, the recipient of the funds. Without it, the network doesn't know who the money goes to, and the rightful owner can't use it.

  • Ok, but is that so to speak the same thing like the address of the recipient?
    – TMOTTM
    Commented Jan 28, 2016 at 22:27
  • @TMOTTM: Almost. Technically, a Bitcoin address is a Base58-encoded hash of the public key. These days outputs don't specify the actual public key but only the hash. This was only developed some time after Satoshi published the original whitepaper. Commented Jan 28, 2016 at 23:07

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