Bitcoin Transactions - Pay-to-Public-Key?

The Pay to Public key is a very similar process as the pay to address or pay to public key hash.

The only difference is that the presented data is slightly different as the public key is presented as the elliptic curve point and so the hashing and duplication operators aren’t needed.

This form of address is most commonly used in older mining software to generate coinbase transactions – software that hasn’t been updated to include P2PKH.

ScriptPubKey=<Public Key> OP_CHECKSIG
ScriptSig= <Signature>

This transaction is a very simple use of the OP_CHECKSIG operator and validates the signature as being generated by the required private key and therefore having permission to unlock the specific transaction.