Post
Topic
Board Bitcoin Technical Support
Re: What are witness and signscript used for?
by
NotATether
on 31/08/2023, 09:27:30 UTC
What exchange can I trust?

Use one of these exchanges.

The second question is: What makes a signscript and witness different in a transaction, and what are they used  for? What will I be using them for if I want to use bitcoin and other cryptocurrencies that call for a signscript and a witness?

Sigscript, not signscript.

All transactions have a sigscript and that is used for proving that the person making the transaction has access to said address, in order to spend some amount of bitcoins.

Witness data is used in transactions involving Segwit addresses as the area to store this proof data instead of in the sigscript itself, since it saves on fees and also prevents a special condition called transaction malleability where you can have two different txids for the same transaction.