Pay to script hash stats

Since the end of 2013 a new kind of Bitcoin addresses is possible.

Instead of sending your Bitcoin to an address made of a hash of a public key you send them to an address made of a hash of a script.

This allows to shift the responsibility of supplying the conditions necessary to redeem the funds from the sender to the recipient.

P2SH has vastly improved Bitcoin security because it finally allows people to use a multisignature setup without making it incredible difficult for senders to send funds.

Our friend Antoine at p2sh.info has been collecting stats about P2SH transactions and as of today only 0.5451% of all bitcoins are stored in P2SH addresses.

I wanted to find out a bit more about number of transactions and volumes so we parsed the blockchain and found some interesting numbers.

WeeklySpending

This first graph shows the total number of P2SH spending transactions. It’s interesting to see that just recently the number of 2of2 transaction took over the number of 2of3.

WeeklyVolSpending

This second graph shows how 2of2 is pretty flat compared to 2of3 in terms of volumes, that is, other than in August where we have a huge spike for 2of2.

We’re building a number of interesting statistics we’ll want to regularly publish.

If you have suggestions as to what to look for we’d like to hear it!