Author: Nadav Ivgi 2013-06-21 20:41:25
Published on: 2013-06-21T20:41:25+00:00
The discussion is about the exchange of public keys for multisig transactions. The usual method of displaying public keys, hex encoding, results in longer strings and lacks 4-byte verification which raises security concerns. Therefore, a standard way to encode public keys as base58-check addresses is needed to make it easier and safer to display and exchange public keys. Nadav suggests using 0x37/0x38 prefix bytes resulting in letter P for "Public". It is clarified that Nadav was referring to the actual public key, not the hash160 of it used for Bitcoin addresses. Although not usually used, it is needed for multisig transactions.
Updated on: 2023-06-06T19:16:30.272575+00:00