> :book: ***What is a PSBT?*** As the name suggests, a PSBT is a transaction that has not been fully signed. That's important, because once a transaction is signed, its content is locked in. [BIP174](https://github.com/bitcoin/bips/blob/master/bip-0174.mediawiki) defined an abstracted methodology for putting PSBTs together that describes and standardizes roles in their collaborative creation. A *Creator* proposes a transaction; one or more *Updaters* supplement it; and one or more *Signers* authenticate it; before a *Finalizer* completes it; and an *Extracter* turn it into a transaction for the Bitcoin network. There may also be a *Combiner* who merges parallel PSBTs from different users.
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