Author: Alan Reiner 2013-06-19 13:37:36
Published on: 2013-06-19T13:37:36+00:00
The conversation is about hierarchical deterministic wallets and the new style of address that could be used to encode an address in a different way from what is currently in use in the blockchain. The new style of address would only be useful if one wants to prove that the address is linked to another address. In this case, instead of giving a Hash160 address which shows up in the blockchain, a {PubKey, Mult} is given, then the receiving party computes PubKey*Mult, and then hashes it to get the same Hash160 as with version #1. This new style of address will not make it into the blockchain. It is just an alternate way of encoding an address, and the same thing ends up in the blockchain either way. The current method is to give version #1, which is the Hash160 address. However, version #2 can be used if one wants to give the other party extra information, such as the root public key, so that the next time a version #2 address is sent, they can see they are from the same root public key. Melvin Carvalho finds BIP0032 quite hard to read right now and is struggling to understand it.
Updated on: 2023-06-06T19:00:24.602866+00:00