BIP174
BIP174, or Partially Signed Bitcoin Transactions (PSBT), is a Bitcoin Improvement Proposal that standardizes a portable, extensible format for partially signed transactions. It enables multiple parties—such as hardware wallets, custodians, or multisignature setups—to cooperatively prepare and sign a single Bitcoin transaction without exposing private keys, improving interoperability across software and devices.
The PSBT data model is a binary, structured container organized into a global section, input sections, and
A typical workflow begins with creating an unsigned transaction and converting it into a PSBT. The PSBT
Adoption and impact: PSBT has been widely adopted by wallets, hardware devices, and custody platforms to support
History: BIP174 was proposed to standardize PSBTs by Andrew Chow and a group of contributors. It was