Author: Andy Parkins 2012-01-30 10:57:54
Published on: 2012-01-30T10:57:54+00:00
In January 2012, Dr. Andy Parkins proposed the idea of cannibalizing more information in a Bitcoin address from its checksum. This would not affect the network ID's current meaning, but it would prevent users from mistaking two different addresses and creating a non-redeemable transaction. The base58 encoding has spare capacity since the longest and largest address is 25 bytes of 0xff, which is converted to base58 as 34 symbols. However, there are still a few unused bits available that can be added without changing the number of symbols in the address. Overall, this proposal is an idea and may not be feasible or beneficial.
Updated on: 2023-06-05T01:57:48.646376+00:00