Glossary

Redeem script

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A RedeemScript is the script used to unlock bitcoin sent to a P2SH or P2WSH address. In a P2SH or P2WSH transaction, bitcoin is locked to the hash of a RedeemScript, ensuring that only someone who can reproduce the RedeemScript and add any required signatures can spend the bitcoin. Redeem scripts most commonly entail multisig scripts or wrapped SegWit scripts.

Related Terms
Pay-to-Script-Hash (P2SH)
Pay-to-Script-Hash (P2SH) is a transaction type that lets bitcoin be spent by satisfying any script the sender provides. It is used for multisig and SegWit.
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Pay-to-Witness-Script-Hash (P2WSH)
A Pay-to-Witness-Script-Hash (P2WSH) is a type of transaction similar to a P2SH transaction in most ways, except that it uses SegWit.
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Bitcoin script
Script is the language Bitcoin uses to decide who can spend a given UTXO. It is intentionally limited so anyone can run a node and validate the chain.
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Multisig
Multisig lets bitcoin be locked so that spending it requires multiple signatures from different private keys, enabling flexible joint custody of funds.
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