Human readable checksum (verification code) to avoid errors on BTC public addresses [combined summary]

• Human readable checksum (verification code) to avoid errors on BTC public addresses ts 2021-09-03 05:08:42+00:00
• Human readable checksum (verification code) to avoid errors on BTC public addresses Marek Palatinus 2021-08-31 08:47:26+00:00
• Human readable checksum (verification code) to avoid errors on BTC public addresses ts 2021-08-31 02:17:07+00:00
• Human readable checksum (verification code) to avoid errors on BTC public addresses ts 2021-08-31 02:16:00+00:00
• Human readable checksum (verification code) to avoid errors on BTC public addresses Pieter Wuille 2021-08-29 14:42:07+00:00
• Human readable checksum (verification code) to avoid errors on BTC public addresses Pieter Wuille 2021-08-29 14:24:48+00:00
• Human readable checksum (verification code) to avoid errors on BTC public addresses ts 2021-08-28 21:17:35+00:00
• Human readable checksum (verification code) to avoid errors on BTC public addresses ts 2021-08-21 04:52:26+00:00
• Human readable checksum (verification code) to avoid errors on BTC public addresses ts 2021-08-21 04:52:16+00:00
• Human readable checksum (verification code) to avoid errors on BTC public addresses Karl 2021-08-19 21:05:28+00:00
• Human readable checksum (verification code) to avoid errors on BTC public addresses Christopher Allen 2021-08-19 17:37:29+00:00
• Human readable checksum (verification code) to avoid errors on BTC public addresses ts 2021-08-19 17:02:38+00:00
• Human readable checksum (verification code) to avoid errors on BTC public addresses ZmnSCPxj 2021-08-16 10:34:36+00:00
• Human readable checksum (verification code) to avoid errors on BTC public addresses ts 2021-08-16 04:23:25+00:00

Published on: 2021-09-03T05:08:42+00:00

Summary:

One solution to reduce the probability of performing transactions to the wrong address is to match the DC (destination checksum) from the receiving address. This implementation is relatively simple, but it requires agreement on a checksum standard for generating the code. Once this standard is established, developers of wallets and exchanges can begin implementing it.To encourage fast adoption, it would be helpful to have a catchy name for this code, such as "human readable checksum," "verification code," or "4DC." This solution could potentially be used for all other coins and networks, although it is ideal for each to have its own checksum algorithm. This would prevent funds from being sent to the wrong network, especially in cases where the address standard is the same, like with BTC and BCH.The hope is that Bitcoin can lead the way in implementing this solution and serve as an example for other coins and networks to follow suit. By adopting this method, the likelihood of mistakenly sending transactions to the wrong address can be greatly reduced.

Updated on: 2023-08-02T04:36:53.862644+00:00