What is Needed...

What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.

- Satoshi Nakamoto, Bitcoin Whitepaper

Due to the reasons outlined in the previous section, what is needed is a system that uses cryptographic knowledge proofs to allow the purchasing party (customer) to establish a firm basis of custody over the money being used in a transaction. Bitcoin achieves this by using digital signatures and a simple but fully featured scripting language.

Bitcoin signatures are simple for the receiving party to validate and can be stored on the Bitcoin public ledger with efficiency and very low overheads. Because the sending party can establish control over the tokens themselves without using a third party to hold funds and manage the transfer, transactions are very fast and simple.

By using Bitcoin, receivers can quickly and simply validate that funds were indeed controlled by the sending party, and that the transaction correctly allocates the correct amount to their own control without requiring additional validation by third parties.

Learn more about Bitcoin Script here: http://wiki.bitcoinsv.io/index.php/Script