Glossary | Output
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Output

Outputs are packages of bitcoins created in a bitcoin transaction.

Each output has a lock, which means that they can only be used as an inputs in a future transaction by people who can unlock them.

Structure

01000000017967a5185e907a25225574544c31f7b059c1a191d65b53dcc1554d339c4f9efc010000006a47304402206a2eb16b7b92051d0fa38c133e67684ed064effada1d7f925c842da401d4f22702201f196b10e6e4b4a9fff948e5c5d71ec5da53e90529c8dbd122bff2b1d21dc8a90121039b7bcd0824b9a9164f7ba098408e63e5b7e3cf90835cceb19868f54f8961a825ffffffff014baf2100000000001976a914db4d1141d0048b1ed15839d0b7a4c488cd368b0e88ac00000000

Transaction: 0d0897966df95d0b8e7a33855a64f7de365e7d17e28f2a05c39806e77d5f9859

Fields

Field Data Size Description
Value 4baf210000000000 8 bytes The value of the output in satoshis.
ScriptPubKey Size 19 Variable Indicates the upcoming size of the locking code.
ScriptPubKey 76a9...88ac A script that locks the output.

If you want to decode the value of an output, you just need to swap the byte order, then convert from hexadecimal to decimal. That will give you the value in satoshis.

How do Outputs work?

After selecting Input(s) to spend, you can create as many Outputs from them as you like.

For each output you just:

  1. Give it a value.
  2. Give it a lock.

1. Value

Every output has a value. This value is given in satoshis:

You can create as many outputs as you like, as long as their sum does not exceed the sum of the Inputs you are spending.

You can create as many outputs as you like, as long as their sum does not exceed the sum of the Inputs you are spending.

2. Lock

You also place locks on outputs when you create them them. These locking scripts prevent other people from using these outputs as inputs in another transaction (i.e. spending them).

This locking code is called a ScriptPubKey.

You can only use an output as an input to another transaction if you can unlock it.

You can only use an output as an input to another transaction if you can unlock it.

Notes

I think of outputs as being variously-sized packages of bitcoins:

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