By the end, you’ll be able to…
- Identify the main PSBT roles.
- Explain why a signer must still review the transaction.
Three questions to carry into this lesson.
A container for collaboration
A Partially Signed Bitcoin Transaction carries a proposed transaction and supporting data so multiple tools can participate. BIP 174 describes roles such as creator, updater, signer, combiner, finalizer and extractor. One application may perform several roles, but the separation helps explain where data is added and where spending authorization occurs.
Portable does not mean trustworthy
A coordinator can prepare a PSBT without being allowed to spend. A signer must check the transaction and sufficient supporting information rather than assuming the coordinator is honest. Combining signatures does not authorize a different economic purpose. The final extracted transaction still needs broadcast and reconciliation; a complete signature set is not a confirmation.
Design for refusal and recovery
In a fictional two-person treasury, one person prepares a payment request and two authorized signers review their own displays. A mismatch stops the workflow. Logs can preserve the approved purpose and final transaction identifier without storing private keys. Test the recovery path if the coordinator disappears: can another compatible tool reconstruct the policy and complete the process? This lesson does not ask you to sign or upload any real PSBT.
Practice on paper
A coordinator says a PSBT is “ready.” Name three checks a signer should understand before authorizing it.
I’ve tried it — show the worked answer
Check recipient outputs and amounts, correct recognition of change, and the fee/network/policy context. The exact review depends on the wallet and script. “Ready” is a workflow label, not proof that the proposal matches human intent.
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One idea to take with you
Keep preparation, authorization and settlement independently understandable.
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