Partially Signed Bitcoin Transaction (PSBT)
A Partially Signed Bitcoin Transaction is a standardized Bitcoin format for passing an incomplete transaction between wallets or signers until enough signatures and metadata are collected.
✦ Key Insight
It enables secure coordination without sharing private keys.
✕ Common Misconceptions
A PSBT can contain privacy-sensitive transaction and derivation metadata even though it does not reveal private keys.
Detailed Explanation
In Practice
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Multisig Wallet
A wallet that requires several independent keys to approve a transaction before it executes.
Transaction
A blockchain transaction is a signed or authorized instruction that changes blockchain state or transfers value when accepted by the network.
Wallet Fingerprint
A wallet fingerprint is a short identifier derived from key material and used to help identify an HD-wallet key or signing source.
Offline Signing
Offline signing is the process of authorizing a transaction on a device that is not directly connected to the network used to broadcast it.