Author: Gavin Andresen 2015-07-22 21:06:02
Published on: 2015-07-22T21:06:02+00:00
In a message posted on the bitcoin-dev forum, Tier Nolan discussed the challenges of introducing a new type of bitcoin address. According to Nolan, introducing a new address system requires most clients to be updated which can take a long time and requires many people to change their code. Nolan referred to the introduction of P2SH addresses as an example of how difficult it can be to introduce a new address system. In conclusion, Nolan stated that introducing a new address system for a modest space saving of 10 bytes, when scriptSig+scriptPubKey is about 120 bytes, is not worth the effort especially with the extreme decrease in security from going from 2^160 to 2^80 to brute-force. Gavin Andresen also commented on the post.
Updated on: 2023-06-10T03:30:06.235169+00:00