On March 7, 2012, the first transaction was made to an address supporting the P2SH standard. Pay-to-Script-Hash operations were standardized in BIP 16. They allow transactions to be sent to a hash code (an address starting with 3) instead of a public key hash (addresses starting with 1).
To spend bitcoin sent according to P2SH, the recipient must provide a script matching the hash and script data.
One of the most popular use cases for P2SH is multisig schemes. More about them below 👇