Question

Alice and Bob use ScroogeCoin. Alice owns ten coins, each under a different address (public key) and each of value 3.0. She would like to transfer coins of value 5.0 to Bob.

Recall that the PayCoins transaction consumes (and destroys) some coins, and creates new coins of the same total value. Alice’s transfer will require, at a minimum:

a) Two PayCoins transactions, two new coins created, and four signatures.

b) Two PayCoins transactions, one new coin created, and two signatures.

c) One PayCoins transaction, one new coin created, and one signature.

d) One PayCoins transaction, two new coins created, and two signatures.

Answer 1

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Answer: One PayCoins transaction, two new coins created, and two signatures

Explanation:

Conceptually, this is one transaction. In one transaction, multiple addresses can be used, but for each address, we need a signature. In terms of coin. coins are only created or destroyed, never changed (including changing owner), so the two coins by Alice has to be destroyed, and we create one 5.0 coin for Bob, and one 1.0 coin for Alice as change.

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