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Wallet applications implementing additional protocols beyond basic Bitcoin support may also need or want to store other data. For example, as of 2023, an increasing number of applications have added support for sending and receiving transactions over the Lightning Network (LN). Although the LN protocol provides a method to recover funds in the

The “bech” stands for BCH, the initials of the three individuals who discovered the cyclic code in 1959 and 1960 upon which bech32 is based. The “32” stands for the number of characters in the bech32 alphabet (similar to the 58 in base58check): Bech32 uses only numbers and a single case of letters (preferably rendered in lowercase). Despite its

Amount The first field of a specific output is its amount, also called “value” in Bitcoin Core. This is an 8-byte signed integer indicating the number of satoshis to transfer. A satoshi is the smallest unit of bitcoin that can be represented in an onchain Bitcoin transaction. There are 100 million satoshis in a bitcoin. Bitcoin’s consensus rules

Pay to Public Key Hash A pay to public key hash (P2PKH) script uses an output script that contains a hash that commits to a public key. P2PKH is best known as the basis for a legacy Bitcoin address. A P2PKH output can be spent by presenting a public key that matches the hash commitment and a digital signature created by the corresponding private