Please see the slides used by Tim Lee founder of Arc Bit bitcoin wallet in his Introduction to Blockchain and Bitcoin workshop at Byte Academy. This presentation kicked off Byte Academy's cryptocurrency series.
15. Transactions
• Input Scripts - proving that conditions
has been satisfied
• Output Scripts - conditions to satisfy to
spend bitcoins
16. 3 Main ways to use
Bitcoins
• Banking model - Bitcoin logic and data
on servers
• Security box model - Bitcoin logic on
client, but data on server
• Wallet model - Bitcoin logic and data is
on client