Course Solutions Uncategorized (Solved) : Bitcoin Script Alice Backpacking Trip Worried Devices Containing Private Keys Getting Stol Q34900983 . . . .

(Solved) : Bitcoin Script Alice Backpacking Trip Worried Devices Containing Private Keys Getting Stol Q34900983 . . . .

 

Bitcoin script: Alice is on a backpacking trip and is worriedabout her devices containing private keys getting stolen. So, shewould like to store her bitcoins in such a way that they can beredeemed via knowledge of only a password. Accordingly, she storesthem in the following ScriptPubKey address: OP_SHA1<0xeb271cbcc2340d0b0e6212903e29f22e5 78ff69b> OP_EQUAL

a. Write a ScriptSig script that will successfully redeem thistransaction. [Hint: it should only be one line long.]

b. Explain why this is not a secure way to protect Bitcoinsusing a password.

c. Would implementing this using Pay-to-script-hash (P2SH) fixthe security issue(s) you identified? Why or why not?

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