I am looking at solutions to simplify the architecture of Bitcoin from a more theoretical perspective. I am thinking about removing Bitcoin script, however I am not sure what restrictions this introduces. I find many vague arguments, that having script makes us more flexible, however I am looking for concrete examples.

I have the following things:

  • Payment channels
  • Gambling / distributed random generator
  • Storing data in the blockchain / Proof of publication

What else is out there?

  • 1
    Are you thinking of using the P2PKH as the only way of sending transactions? (Just to clarify what examples can be suggested)
    – sr_gi
    Commented Feb 24, 2017 at 15:30
  • I'm wondering whether your underlying question is: "What are the advantages of having a script language for transactions instead of a more simple transaction format?" Perhaps you would like to edit your question to specify your question more clearly and to tell us a bit more about what we would be comparing to.
    – Murch
    Commented Feb 27, 2017 at 10:21

2 Answers 2

  • multisig transactions
  • blockchain-embedded escrow
  • time-bound transactions
  • proof-of-burn
  • bets based on some oracle, either trusted or decentralized

I suppose there are many more and that some if not all of the above can be, more or less efficiently, realized with P2PKH, possibly with some extra protocols required.


You can go through the following links:

https://www.coursera.org/learn/cryptocurrency/lecture/HWjti/bitcoin-scripts and https://www.coursera.org/learn/cryptocurrency/lecture/Vu5eX/applications-of-bitcoin-scripts

to know more detailed examples of the importance of Bitcoin scripts.

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