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<section id="american-option">
<h1>American Option<a class="headerlink" href="#american-option" title="Permalink to this headline">¶</a></h1>
<p>An <em>option</em> is a financial contract that allows an investor to exercise a choice
between two subcontracts.
We implement in BitML the <em>American option</em>,
where the investor can exercise the choice anytime before a given deadline.</p>
<p>We start by defining the parametric contract <code class="code bitml docutils literal notranslate"><span class="pre">(AmericanOption</span> <span class="pre">Part</span> <span class="pre">t</span> <span class="pre">Contract1</span> <span class="pre">Contract2</span> <span class="pre">Default)</span></code>.
The parameter of the contract are: a participant <code class="docutils literal notranslate"><span class="pre">Part</span></code> who can choose, before deadline <code class="docutils literal notranslate"><span class="pre">t</span></code>,
to authorise the either <code class="docutils literal notranslate"><span class="pre">Contract1</span></code> or <code class="docutils literal notranslate"><span class="pre">Contract2</span></code>.
If time <code class="docutils literal notranslate"><span class="pre">t</span></code> passes, the contract can proceed as the parameter contract <code class="docutils literal notranslate"><span class="pre">Default</span></code>.</p>
<p>We exploit the American Option to implement an investment contract between
an investor <code class="docutils literal notranslate"><span class="pre">A</span></code> and an issuer <code class="docutils literal notranslate"><span class="pre">I</span></code>.
After stipulating the contract, <code class="docutils literal notranslate"><span class="pre">A</span></code> can choose whether to invest, or to retract.
If she authorise the contract <code class="docutils literal notranslate"><span class="pre">Invest</span></code>,
she immediately pays her 1 BTC deposit to <code class="docutils literal notranslate"><span class="pre">I</span></code>, expecting to get back 1.1 BTC
from <code class="docutils literal notranslate"><span class="pre">I</span></code> after block 160000000.
If she authorise the contract <code class="docutils literal notranslate"><span class="pre">Retract</span></code>, she does not invest,
but she only gets back 0.95 BTC, paying 0.05 BTC to <code class="docutils literal notranslate"><span class="pre">I</span></code> as a fee.
Otherwise, if she doesn’t chose before the deadline <code class="docutils literal notranslate"><span class="pre">t</span></code> ,
<code class="docutils literal notranslate"><span class="pre">I</span></code> can invoke the contract <code class="docutils literal notranslate"><span class="pre">Default</span></code>,
which returns <code class="docutils literal notranslate"><span class="pre">A</span></code>’s deposit to her, minus a 0.1 BTC penalty,
which goes to <code class="docutils literal notranslate"><span class="pre">I</span></code>.</p>
<p>Finally, we verify that the contract is liquid.</p>
<div class="highlight-bitml notranslate"><div class="highlight"><pre><span></span><span class="o">#</span><span class="nv">lang</span> <span class="nv">bitml</span>
<span class="p">(</span><span class="k">participant </span><span class="s">"A"</span> <span class="s">"0339bd7fade9167e09681d68c5fc80b72166fe55bbb84211fd12bde1d57247fbe1"</span><span class="p">)</span>
<span class="p">(</span><span class="k">participant </span><span class="s">"I"</span> <span class="s">"034a7192e922118173906555a39f28fa1e0b65657fc7f403094da4f85701a5f809"</span><span class="p">)</span>
<span class="p">(</span><span class="nf">debug-mode</span><span class="p">)</span>
<span class="p">(</span><span class="nf">define</span> <span class="p">(</span><span class="nf">txA</span><span class="p">)</span> <span class="s">"."</span><span class="p">)</span>
<span class="p">(</span><span class="nf">define</span> <span class="p">(</span><span class="nf">txFee</span><span class="p">)</span> <span class="s">".."</span><span class="p">)</span>
<span class="p">(</span><span class="nf">define</span> <span class="p">(</span><span class="nf">txI</span><span class="p">)</span> <span class="s">"..."</span><span class="p">)</span>
<span class="c1">;; Part can choose at time t whether to execute Contract1 or Contract2</span>
<span class="c1">;; after deadline t, the contract Default can be executed</span>
<span class="c1">;--------------------------------------------------------------</span>
<span class="p">(</span><span class="nf">define</span> <span class="p">(</span><span class="nf">AmericanOption</span> <span class="nv">Part</span> <span class="nv">t</span> <span class="nv">Contract1</span> <span class="nv">Contract2</span> <span class="nv">Default</span><span class="p">)</span>
<span class="p">(</span><span class="nf">choice</span>
<span class="p">(</span><span class="k">auth </span><span class="nv">Part</span> <span class="p">(</span><span class="k">tau </span><span class="p">(</span><span class="k">ref </span><span class="p">(</span><span class="nf">Contract1</span><span class="p">))))</span>
<span class="p">(</span><span class="k">auth </span><span class="nv">Part</span> <span class="p">(</span><span class="k">tau </span><span class="p">(</span><span class="k">ref </span><span class="p">(</span><span class="nf">Contract2</span><span class="p">))))</span>
<span class="p">(</span><span class="k">after </span><span class="nv">t</span> <span class="p">(</span><span class="k">tau </span><span class="p">(</span><span class="k">ref </span><span class="p">(</span><span class="nf">Default</span><span class="p">))))))</span>
<span class="c1">; Sub-contracts used to instantiate the American Option</span>
<span class="c1">;--------------------------------------------------------------</span>
<span class="c1">;; A chooses not to proceed with the investment,</span>
<span class="c1">;; and gets back her deposit minus a cancellation fee.</span>
<span class="c1">;; I gets gets the fee from A.</span>
<span class="p">(</span><span class="nf">define</span> <span class="p">(</span><span class="nf">Retract</span><span class="p">)</span>
<span class="p">(</span><span class="nf">split</span>
<span class="p">(</span><span class="mf">0.95</span> <span class="k">-> </span><span class="p">(</span><span class="k">withdraw </span><span class="s">"A"</span><span class="p">))</span>
<span class="p">(</span><span class="mf">0.05</span> <span class="k">-> </span><span class="p">(</span><span class="k">withdraw </span><span class="s">"I"</span><span class="p">))))</span>
<span class="c1">;; A chooses to proceed with the investment.</span>
<span class="c1">;; The funds are locked up to a certain time,</span>
<span class="c1">;; then she can withdraw the whole balance</span>
<span class="p">(</span><span class="nf">define</span> <span class="p">(</span><span class="nf">Invest</span><span class="p">)</span>
<span class="p">(</span><span class="nf">split</span>
<span class="p">(</span><span class="mi">1</span> <span class="k">-> </span><span class="p">(</span><span class="k">withdraw </span><span class="s">"I"</span><span class="p">))</span>
<span class="p">(</span><span class="mi">0</span> <span class="k">-> </span><span class="p">(</span><span class="k">after </span><span class="mi">160000000</span> <span class="p">(</span><span class="k">put </span><span class="p">(</span><span class="nf">x</span><span class="p">)</span> <span class="p">(</span><span class="k">withdraw </span><span class="s">"A"</span><span class="p">))))))</span>
<span class="c1">;; A failed to choose whether to invest or retract.</span>
<span class="c1">;; She gets back her deposit minus a penalty.</span>
<span class="c1">;; I gets gets the penalty from A.</span>
<span class="p">(</span><span class="nf">define</span> <span class="p">(</span><span class="nf">Default</span><span class="p">)</span>
<span class="p">(</span><span class="nf">split</span>
<span class="p">(</span><span class="mf">0.9</span> <span class="k">-> </span><span class="p">(</span><span class="k">withdraw </span><span class="s">"A"</span><span class="p">))</span>
<span class="p">(</span><span class="mf">0.1</span> <span class="k">-> </span><span class="p">(</span><span class="k">withdraw </span><span class="s">"I"</span><span class="p">))))</span>
<span class="c1">;--------------------------------------------------------------</span>
<span class="p">(</span><span class="nf">contract</span>
<span class="p">(</span><span class="k">pre </span><span class="p">(</span><span class="k">deposit </span><span class="s">"A"</span> <span class="mi">1</span> <span class="p">(</span><span class="k">ref </span><span class="p">(</span><span class="nf">txA</span><span class="p">)))</span>
<span class="p">(</span><span class="k">vol-deposit </span><span class="s">"I"</span> <span class="nv">x</span> <span class="mf">1.1</span> <span class="p">(</span><span class="k">ref </span><span class="p">(</span><span class="nf">txI</span><span class="p">)))</span>
<span class="p">(</span><span class="k">fee </span><span class="s">"A"</span> <span class="mf">0.01</span> <span class="p">(</span><span class="k">ref </span><span class="p">(</span><span class="nf">txFee</span><span class="p">))))</span>
<span class="p">(</span><span class="k">ref </span><span class="p">(</span><span class="nf">AmericanOption</span> <span class="s">"A"</span> <span class="mi">1550000</span> <span class="nv">Retract</span> <span class="nv">Invest</span> <span class="nv">Default</span><span class="p">))</span>
<span class="p">(</span><span class="nf">check-liquid</span><span class="p">))</span>
</pre></div>
</div>
<p>This is the result of the compilation.</p>
<div class="highlight-balzac notranslate"><div class="highlight"><pre><span></span><span class="kd">const</span> <span class="vg">pubkeyA13</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">0339bd7fade9167e09681d68c5fc80b72166fe55bbb84211fd12bde1d57247fbe1</span>
<span class="kd">const</span> <span class="vg">pubkeyI2</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">034a7192e922118173906555a39f28fa1e0b65657fc7f403094da4f85701a5f809</span>
<span class="kd">const</span> <span class="vg">pubkeyA11</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">0339bd7fade9167e09681d68c5fc80b72166fe55bbb84211fd12bde1d57247fbe1</span>
<span class="kd">const</span> <span class="vg">pubkeyA1</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">0339bd7fade9167e09681d68c5fc80b72166fe55bbb84211fd12bde1d57247fbe1</span>
<span class="kd">const</span> <span class="vg">pubkeyA9</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">0339bd7fade9167e09681d68c5fc80b72166fe55bbb84211fd12bde1d57247fbe1</span>
<span class="kd">const</span> <span class="vg">pubkeyA7</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">0339bd7fade9167e09681d68c5fc80b72166fe55bbb84211fd12bde1d57247fbe1</span>
<span class="kd">const</span> <span class="vg">pubkeyI10</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">034a7192e922118173906555a39f28fa1e0b65657fc7f403094da4f85701a5f809</span>
<span class="kd">const</span> <span class="vg">pubkeyI6</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">034a7192e922118173906555a39f28fa1e0b65657fc7f403094da4f85701a5f809</span>
<span class="kd">const</span> <span class="vg">pubkeyI8</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">034a7192e922118173906555a39f28fa1e0b65657fc7f403094da4f85701a5f809</span>
<span class="kd">const</span> <span class="vg">pubkeyA3</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">0339bd7fade9167e09681d68c5fc80b72166fe55bbb84211fd12bde1d57247fbe1</span>
<span class="kd">const</span> <span class="vg">pubkeyA5</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">0339bd7fade9167e09681d68c5fc80b72166fe55bbb84211fd12bde1d57247fbe1</span>
<span class="kd">const</span> <span class="vg">pubkeyA15</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">0339bd7fade9167e09681d68c5fc80b72166fe55bbb84211fd12bde1d57247fbe1</span>
<span class="kd">const</span> <span class="vg">pubkeyI12</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">034a7192e922118173906555a39f28fa1e0b65657fc7f403094da4f85701a5f809</span>
<span class="kd">const</span> <span class="vg">pubkeyI4</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">034a7192e922118173906555a39f28fa1e0b65657fc7f403094da4f85701a5f809</span>
<span class="kd">const</span> <span class="vg">pubkeyI14</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">034a7192e922118173906555a39f28fa1e0b65657fc7f403094da4f85701a5f809</span>
<span class="kd">const</span> <span class="vg">pubkeyI16</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">034a7192e922118173906555a39f28fa1e0b65657fc7f403094da4f85701a5f809</span>
<span class="kd">const</span> <span class="vg">pubkeyA</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">0339bd7fade9167e09681d68c5fc80b72166fe55bbb84211fd12bde1d57247fbe1</span>
<span class="kd">const</span> <span class="vg">pubkeyI</span> <span class="o">=</span> <span class="kp">pubkey:</span><span class="l">034a7192e922118173906555a39f28fa1e0b65657fc7f403094da4f85701a5f809</span>
<span class="kd">const</span> <span class="vg">sigA0</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span> <span class="c1">//add signature for output .</span>
<span class="kd">const</span> <span class="vg">sigAFee</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span> <span class="c1">//add signature for output ..</span>
<span class="kd">transaction</span> <span class="vg">Tinit</span> <span class="o">{</span>
<span class="k">input</span> <span class="o">=</span> <span class="o">[</span> <span class="o">.:</span><span class="n">sigA0</span><span class="o">;</span> <span class="o">..:</span><span class="n">sigAFee</span> <span class="o">]</span>
<span class="k">output</span> <span class="o">=</span> <span class="mi">1</span><span class="o">.</span><span class="mi">0097</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span> <span class="o">.</span> <span class="o">((</span> <span class="k">versig</span><span class="o">(</span><span class="n">pubkeyA1</span><span class="o">,</span> <span class="n">pubkeyI2</span><span class="o">;</span> <span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span> <span class="o">||</span>
<span class="k">versig</span><span class="o">(</span><span class="n">pubkeyA3</span><span class="o">,</span> <span class="n">pubkeyI4</span><span class="o">;</span> <span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span> <span class="o">||</span>
<span class="k">versig</span><span class="o">(</span><span class="n">pubkeyA5</span><span class="o">,</span> <span class="n">pubkeyI6</span><span class="o">;</span> <span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span> <span class="o">))</span>
<span class="o">}</span>
<span class="kd">const</span> <span class="vg">sigAT1</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">const</span> <span class="vg">sigIT1</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">transaction</span> <span class="vg">T1</span> <span class="o">{</span>
<span class="k">input</span> <span class="o">=</span> <span class="o">[</span> <span class="n">Tinit</span>@<span class="mi">0</span><span class="o">:</span> <span class="n">sigAT1</span> <span class="n">sigIT1</span> <span class="o">]</span>
<span class="k">output</span> <span class="o">=</span> <span class="mi">1</span><span class="o">.</span><span class="mi">0094</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span> <span class="o">.</span> <span class="k">versig</span><span class="o">(</span><span class="n">pubkeyA7</span><span class="o">,</span> <span class="n">pubkeyI8</span><span class="o">;</span> <span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span>
<span class="o">}</span>
<span class="kd">const</span> <span class="vg">sigAT2</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">const</span> <span class="vg">sigIT2</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">transaction</span> <span class="vg">T2</span> <span class="o">{</span>
<span class="k">input</span> <span class="o">=</span> <span class="o">[</span> <span class="n">T1</span>@<span class="mi">0</span><span class="o">:</span> <span class="n">sigAT2</span> <span class="n">sigIT2</span> <span class="o">]</span>
<span class="k">output</span> <span class="o">=</span> <span class="o">[</span> <span class="mi">0</span><span class="o">.</span><span class="mi">95455</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span> <span class="o">.</span> <span class="o">((</span><span class="k">versig</span><span class="o">(</span><span class="n">pubkeyA9</span><span class="o">,</span> <span class="n">pubkeyI10</span><span class="o">;</span> <span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)));</span>
<span class="mi">0</span><span class="o">.</span><span class="mi">05455</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span> <span class="o">.</span> <span class="o">((</span><span class="k">versig</span><span class="o">(</span><span class="n">pubkeyA11</span><span class="o">,</span> <span class="n">pubkeyI12</span><span class="o">;</span> <span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)))</span> <span class="o">]</span>
<span class="o">}</span>
<span class="kd">const</span> <span class="vg">sigAT3</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">const</span> <span class="vg">sigIT3</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">transaction</span> <span class="vg">T3</span> <span class="o">{</span>
<span class="k">input</span> <span class="o">=</span> <span class="o">[</span> <span class="n">T2</span>@<span class="mi">0</span><span class="o">:</span> <span class="n">sigAT3</span> <span class="n">sigIT3</span> <span class="o">]</span>
<span class="k">output</span> <span class="o">=</span> <span class="mi">0</span><span class="o">.</span><span class="mi">95425</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">x</span><span class="o">)</span> <span class="o">.</span> <span class="k">versig</span><span class="o">(</span><span class="n">pubkeyA</span><span class="o">;</span> <span class="n">x</span><span class="o">)</span>
<span class="o">}</span>
<span class="kd">const</span> <span class="vg">sigAT4</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">const</span> <span class="vg">sigIT4</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">transaction</span> <span class="vg">T4</span> <span class="o">{</span>
<span class="k">input</span> <span class="o">=</span> <span class="o">[</span> <span class="n">T2</span>@<span class="mi">1</span><span class="o">:</span> <span class="n">sigAT4</span> <span class="n">sigIT4</span> <span class="o">]</span>
<span class="k">output</span> <span class="o">=</span> <span class="mi">0</span><span class="o">.</span><span class="mi">05425</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">x</span><span class="o">)</span> <span class="o">.</span> <span class="k">versig</span><span class="o">(</span><span class="n">pubkeyI</span><span class="o">;</span> <span class="n">x</span><span class="o">)</span>
<span class="o">}</span>
<span class="kd">const</span> <span class="vg">sigAT5</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">const</span> <span class="vg">sigIT5</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">transaction</span> <span class="vg">T5</span> <span class="o">{</span>
<span class="k">input</span> <span class="o">=</span> <span class="o">[</span> <span class="n">Tinit</span>@<span class="mi">0</span><span class="o">:</span> <span class="n">sigAT5</span> <span class="n">sigIT5</span> <span class="o">]</span>
<span class="k">output</span> <span class="o">=</span> <span class="mi">1</span><span class="o">.</span><span class="mi">0094</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span> <span class="o">.</span> <span class="k">versig</span><span class="o">(</span><span class="n">pubkeyA13</span><span class="o">,</span> <span class="n">pubkeyI14</span><span class="o">;</span> <span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span>
<span class="o">}</span>
<span class="kd">const</span> <span class="vg">sigAT6</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">const</span> <span class="vg">sigIT6</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">transaction</span> <span class="vg">T6</span> <span class="o">{</span>
<span class="k">input</span> <span class="o">=</span> <span class="o">[</span> <span class="n">T5</span>@<span class="mi">0</span><span class="o">:</span> <span class="n">sigAT6</span> <span class="n">sigIT6</span> <span class="o">]</span>
<span class="k">output</span> <span class="o">=</span> <span class="o">[</span> <span class="mi">1</span><span class="o">.</span><span class="mi">00455</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span> <span class="o">.</span> <span class="o">((</span><span class="k">versig</span><span class="o">(</span><span class="n">pubkeyA11</span><span class="o">,</span> <span class="n">pubkeyI12</span><span class="o">;</span> <span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)));</span>
<span class="mi">0</span><span class="o">.</span><span class="mi">00455</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span> <span class="o">.</span> <span class="o">((</span><span class="k">versig</span><span class="o">(</span><span class="n">pubkeyA15</span><span class="o">,</span> <span class="n">pubkeyI16</span><span class="o">;</span> <span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)))</span> <span class="o">]</span>
<span class="o">}</span>
<span class="kd">const</span> <span class="vg">sigAT7</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">const</span> <span class="vg">sigIT7</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">transaction</span> <span class="vg">T7</span> <span class="o">{</span>
<span class="k">input</span> <span class="o">=</span> <span class="o">[</span> <span class="n">T6</span>@<span class="mi">0</span><span class="o">:</span> <span class="n">sigAT7</span> <span class="n">sigIT7</span> <span class="o">]</span>
<span class="k">output</span> <span class="o">=</span> <span class="mi">1</span><span class="o">.</span><span class="mi">00425</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">x</span><span class="o">)</span> <span class="o">.</span> <span class="k">versig</span><span class="o">(</span><span class="n">pubkeyI</span><span class="o">;</span> <span class="n">x</span><span class="o">)</span>
<span class="o">}</span>
<span class="kd">const</span> <span class="vg">sigx</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span> <span class="c1">//add signature for output ...</span>
<span class="kd">const</span> <span class="vg">sigAT8</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">const</span> <span class="vg">sigIT8</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">transaction</span> <span class="vg">T8</span> <span class="o">{</span>
<span class="k">input</span> <span class="o">=</span> <span class="o">[</span> <span class="n">T6</span>@<span class="mi">1</span><span class="o">:</span> <span class="n">sigAT8</span> <span class="n">sigIT8</span> <span class="o">]</span>
<span class="k">output</span> <span class="o">=</span> <span class="mi">1</span><span class="o">.</span><span class="mi">10425</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span> <span class="o">.</span> <span class="k">versig</span><span class="o">(</span><span class="n">pubkeyA9</span><span class="o">,</span> <span class="n">pubkeyI10</span><span class="o">;</span> <span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span>
<span class="o">}</span>
<span class="kd">const</span> <span class="vg">sigAT9</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">const</span> <span class="vg">sigIT9</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">transaction</span> <span class="vg">T9</span> <span class="o">{</span>
<span class="k">input</span> <span class="o">=</span> <span class="o">[</span> <span class="n">T8</span>@<span class="mi">0</span><span class="o">:</span> <span class="n">sigAT9</span> <span class="n">sigIT9</span> <span class="o">]</span>
<span class="k">output</span> <span class="o">=</span> <span class="mi">1</span><span class="o">.</span><span class="mi">10395</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">x</span><span class="o">)</span> <span class="o">.</span> <span class="k">versig</span><span class="o">(</span><span class="n">pubkeyA</span><span class="o">;</span> <span class="n">x</span><span class="o">)</span>
<span class="o">}</span>
<span class="kd">const</span> <span class="vg">sigAT10</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">const</span> <span class="vg">sigIT10</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">transaction</span> <span class="vg">T10</span> <span class="o">{</span>
<span class="k">input</span> <span class="o">=</span> <span class="o">[</span> <span class="n">Tinit</span>@<span class="mi">0</span><span class="o">:</span> <span class="n">sigAT10</span> <span class="n">sigIT10</span> <span class="o">]</span>
<span class="k">output</span> <span class="o">=</span> <span class="mi">1</span><span class="o">.</span><span class="mi">0094</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span> <span class="o">.</span> <span class="k">versig</span><span class="o">(</span><span class="n">pubkeyA11</span><span class="o">,</span> <span class="n">pubkeyI12</span><span class="o">;</span> <span class="n">sA</span><span class="o">,</span> <span class="n">sI</span><span class="o">)</span>
<span class="o">}</span>
<span class="kd">const</span> <span class="vg">sigAT11</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">const</span> <span class="vg">sigIT11</span> <span class="o">:</span> <span class="kt">signature</span> <span class="o">=</span> <span class="n">_</span>
<span class="kd">transaction</span> <span class="vg">T11</span> <span class="o">{</span>
<span class="k">input</span> <span class="o">=</span> <span class="o">[</span> <span class="n">T10</span>@<span class="mi">0</span><span class="o">:</span> <span class="n">sigAT11</span> <span class="n">sigIT11</span> <span class="o">]</span>
<span class="k">output</span> <span class="o">=</span> <span class="mi">1</span><span class="o">.</span><span class="mi">0091</span> <span class="k">BTC</span> <span class="o">:</span> <span class="k">fun</span><span class="o">(</span><span class="n">x</span><span class="o">)</span> <span class="o">.</span> <span class="k">versig</span><span class="o">(</span><span class="n">pubkeyI</span><span class="o">;</span> <span class="n">x</span><span class="o">)</span>
<span class="o">}</span>
</pre></div>
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