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BIP 16
What is BIP 16?
BIP 16 introduced Pay-to-Script-Hash (P2SH), a powerful feature that allows the recipient of a Bitcoin transaction to specify the script that must be used to spend those coins.
Key Features
Script Flexibility: Enables more complex spending conditions.
Reduced Burden: Moves the burden of providing complex redemption conditions from the sender to the recipient.
Address Format: Introduced a new address format starting with '3'.
Multi-signature Support: Facilitates easier implementation of multi-signature wallets.
Improved Privacy: Can obfuscate the full spending conditions until coins are spent.
Implications
Smart Contracts: Laid groundwork for more advanced smart contract functionality.
Wallet Development: Influenced the development of more sophisticated wallet software.
Security Enhancements: Enabled more secure storage and spending methods.
Scalability: Contributes to more efficient use of blockchain space.
Adoption: Widely adopted and considered a fundamental part of Bitcoin's script system.
Similar Terms
Smart-Contract: Self-executing contracts with the terms directly written into code.
Multi-Signature-Wallet: A wallet that requires multiple signatures to authorize a transaction.
ChainFi, Inc (dba "Arch Lending" and referred to as "Arch" on this website) is not a bank.
Loan Services. Crypto backed loans (“Loans”) are offered to U.S. borrowers by ChainFi, Inc. NMLS #2637200. NMLS Consumer Access.
Loan Availability. Loan availability may vary based on jurisdiction. Loans are not available to U.S. residents of AL, CA, DE, HI, ID, IL, MN, MS, MT, NV, ND, RI, SC, SD, TX, VT, VA, or WA or to U.S. businesses in CA, DC, HI, MT, NV, NM, ND, RI, SD, or VT. We encourage you to contact us to determine if our loans are available in your state.
Loan Agreement. Loans are issued pursuant to a loan agreement between Arch and you. This legally binding document outlines your rights, obligations, interest rates, repayment schedules, potential fees, default consequences, and any other terms and conditions related to your loan. Your loan agreement may contain state-specific provisions. By signing the loan agreement, you acknowledge your acceptance of these terms, so please ensure you understand every aspect before proceeding.
Interest Rates. Annual interest rates are subject to change and may vary based on loan type, the principal amount requested, and the borrower's jurisdiction of residence.
Supported Assets. For the latest list of supported assets, refer to our Help Center.
No Financial, Investment or Tax Advice Provided. The information on this website, articles, guides, tools, or communications, is for general informational purposes only. It is not, and should not be construed as, financial, investment, tax, or other professional advice. Arch is not a financial advisor, investment advisor, broker, tax advisor, or accounting firm. We do not provide personalized advice or recommendations for your unique financial situation or goals. You should consult a qualified professional before making any financial, investment or tax decisions. Any examples, hypothetical scenarios, calculator results, or general discussions of financial or tax concepts are for illustration only and don't guarantee specific outcomes or apply to your personal circumstances. By using this website, you acknowledge you are solely responsible for your financial decisions and will seek independent professional advice as needed.
No Guarantee of Offers, Loans, or Returns. Your use or access to this website or platform does not guarantee the availability of any current and/or future offer, promotion, terms, loan, or return. All offers, promotions, terms, and loans are subject to availability and the sole discretion of Arch. We reserve the right to modify or withdraw any offering at any time without prior notice.
State-Specific Disclosures. Additional state-specific disclaimers may apply depending on your location. We encourage you to review all relevant disclaimers and terms carefully before proceeding.
State of Idaho Disclaimer. In Idaho, ChainFi, Inc is doing business as Arch Lending and does not conduct activity under the name Arch.
ChainFi, Inc (dba "Arch Lending"), 595 Broadway, Floor 4, New York, NY 10012
For general questions, visit our Help Center or use the Intercom chat widget in the bottom right corner of any screen on this website.
For customer service or complaints, email us at support@archlending.com, or call +1 201-690-7206 between Monday-Friday from 9am-7pm ET and Saturday-Sunday from 10am-5pm ET.
© 2025 All Rights Reserved
ChainFi, Inc (dba "Arch Lending" and referred to as "Arch" on this website) is not a bank.
Loan Services. Crypto backed loans (“Loans”) are offered to U.S. borrowers by ChainFi, Inc. NMLS #2637200. NMLS Consumer Access.
Loan Availability. Loan availability may vary based on jurisdiction. Loans are not available to U.S. residents of AL, CA, DE, HI, ID, IL, MN, MS, MT, NV, ND, RI, SC, SD, TX, VT, VA, or WA or to U.S. businesses in CA, DC, HI, MT, NV, NM, ND, RI, SD, or VT. We encourage you to contact us to determine if our loans are available in your state.
Loan Agreement. Loans are issued pursuant to a loan agreement between Arch and you. This legally binding document outlines your rights, obligations, interest rates, repayment schedules, potential fees, default consequences, and any other terms and conditions related to your loan. Your loan agreement may contain state-specific provisions. By signing the loan agreement, you acknowledge your acceptance of these terms, so please ensure you understand every aspect before proceeding.
Interest Rates. Annual interest rates are subject to change and may vary based on loan type, the principal amount requested, and the borrower's jurisdiction of residence.
Supported Assets. For the latest list of supported assets, refer to our Help Center.
No Financial, Investment or Tax Advice Provided. The information on this website, articles, guides, tools, or communications, is for general informational purposes only. It is not, and should not be construed as, financial, investment, tax, or other professional advice. Arch is not a financial advisor, investment advisor, broker, tax advisor, or accounting firm. We do not provide personalized advice or recommendations for your unique financial situation or goals. You should consult a qualified professional before making any financial, investment or tax decisions. Any examples, hypothetical scenarios, calculator results, or general discussions of financial or tax concepts are for illustration only and don't guarantee specific outcomes or apply to your personal circumstances. By using this website, you acknowledge you are solely responsible for your financial decisions and will seek independent professional advice as needed.
No Guarantee of Offers, Loans, or Returns. Your use or access to this website or platform does not guarantee the availability of any current and/or future offer, promotion, terms, loan, or return. All offers, promotions, terms, and loans are subject to availability and the sole discretion of Arch. We reserve the right to modify or withdraw any offering at any time without prior notice.
State-Specific Disclosures. Additional state-specific disclaimers may apply depending on your location. We encourage you to review all relevant disclaimers and terms carefully before proceeding.
State of Idaho Disclaimer. In Idaho, ChainFi, Inc is doing business as Arch Lending and does not conduct activity under the name Arch.
ChainFi, Inc (dba "Arch Lending"), 595 Broadway, Floor 4, New York, NY 10012
For general questions, visit our Help Center or use the Intercom chat widget in the bottom right corner of any screen on this website.
For customer service or complaints, email us at support@archlending.com, or call +1 201-690-7206 between Monday-Friday from 9am-7pm ET and Saturday-Sunday from 10am-5pm ET.
© 2025 All Rights Reserved
ChainFi, Inc (dba "Arch Lending" and referred to as "Arch" on this website) is not a bank.
Loan Services. Crypto backed loans (“Loans”) are offered to U.S. borrowers by ChainFi, Inc. NMLS #2637200. NMLS Consumer Access.
Loan Availability. Loan availability may vary based on jurisdiction. Loans are not available to U.S. residents of AL, CA, DE, HI, ID, IL, MN, MS, MT, NV, ND, RI, SC, SD, TX, VT, VA, or WA or to U.S. businesses in CA, DC, HI, MT, NV, NM, ND, RI, SD, or VT. We encourage you to contact us to determine if our loans are available in your state.
Loan Agreement. Loans are issued pursuant to a loan agreement between Arch and you. This legally binding document outlines your rights, obligations, interest rates, repayment schedules, potential fees, default consequences, and any other terms and conditions related to your loan. Your loan agreement may contain state-specific provisions. By signing the loan agreement, you acknowledge your acceptance of these terms, so please ensure you understand every aspect before proceeding.
Interest Rates. Annual interest rates are subject to change and may vary based on loan type, the principal amount requested, and the borrower's jurisdiction of residence.
Supported Assets. For the latest list of supported assets, refer to our Help Center.
No Financial, Investment or Tax Advice Provided. The information on this website, articles, guides, tools, or communications, is for general informational purposes only. It is not, and should not be construed as, financial, investment, tax, or other professional advice. Arch is not a financial advisor, investment advisor, broker, tax advisor, or accounting firm. We do not provide personalized advice or recommendations for your unique financial situation or goals. You should consult a qualified professional before making any financial, investment or tax decisions. Any examples, hypothetical scenarios, calculator results, or general discussions of financial or tax concepts are for illustration only and don't guarantee specific outcomes or apply to your personal circumstances. By using this website, you acknowledge you are solely responsible for your financial decisions and will seek independent professional advice as needed.
No Guarantee of Offers, Loans, or Returns. Your use or access to this website or platform does not guarantee the availability of any current and/or future offer, promotion, terms, loan, or return. All offers, promotions, terms, and loans are subject to availability and the sole discretion of Arch. We reserve the right to modify or withdraw any offering at any time without prior notice.
State-Specific Disclosures. Additional state-specific disclaimers may apply depending on your location. We encourage you to review all relevant disclaimers and terms carefully before proceeding.
State of Idaho Disclaimer. In Idaho, ChainFi, Inc is doing business as Arch Lending and does not conduct activity under the name Arch.
ChainFi, Inc (dba "Arch Lending"), 595 Broadway, Floor 4, New York, NY 10012
For general questions, visit our Help Center or use the Intercom chat widget in the bottom right corner of any screen on this website.
For customer service or complaints, email us at support@archlending.com, or call +1 201-690-7206 between Monday-Friday from 9am-7pm ET and Saturday-Sunday from 10am-5pm ET.
© 2025 All Rights Reserved