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Explaining Bitcoin Addresses

02/20/2021
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On this episode of “The Van Wirdum Sjorsnado,” hosts Aaron van Wirdum and Sjors Provoost mentioned Bitcoin addresses. Each Bitcoin consumer has most likely at one level used Bitcoin addresses, however what are they, precisely?

Van Wirdum and Provoost defined that Bitcoin addresses usually are not a part of the Bitcoin protocol. As a substitute, they’re conventions utilized by Bitcoin (pockets) software program to speak the place cash should be spent to: both a public key (P2PK), a public key hash (P2PKH), a script hash (P2SH), a witness public key hash (P2WPKH) or a witness script hash (P2WSH). Addresses additionally embrace some meta information concerning the deal with kind itself.

Bitcoin addresses talk these cost choices utilizing their very own “numeric techniques,” the hosts defined. The primary model of this was base58, which makes use of 58 totally different symbols to signify numbers. Newer deal with varieties, bech32 addresses, as a substitute use base32 which makes use of 32 totally different symbols to signify numbers.

Van Wirdum and Provoost mentioned among the advantages of utilizing Bitcoin addresses on the whole and bech32 addresses in particular. As well as, Provoost defined that the primary model of bech32 addresses included a (comparatively innocent) bug, and the way a more recent customary for bech32 addresses has mounted this bug.

The put up Explaining Bitcoin Addresses appeared first on Bitcoin Journal.