Compressed Public Key

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The bitcoin public key address of addresses and private keys in MultiChain is similar to that of bitcoin addresses and private keys. However there are some differences, which ensure that addresses bitcoin public key address keys bitcoin public key address on one MultiChain blockchain are extremely unlikely to be valid on a second chain.

This in turns prevents a developer error from accidentally performing an operation on one chain which was intended for another. This allows 2 64 or over 10 19 separate address spaces to be defined. In MultiChain these values are generated randomly when a new chain is created and bitcoin public key address by the address-pubkeyhash-version and address-checksum-value values bitcoin public key address the blockchain parameters.

There are also address-scripthash-version and private-key-version parameters which define the version bytes for pay-to-scripthash addresses and the exporting of private keys.

MultiChain addresses and private keys are similar to those in bitcoin The format of addresses and private keys in MultiChain is similar to that of bitcoin addresses and private keys. The uncompressed version contains 65 bytes, consisting of 0x0432 bytes for the X coordinate and 32 bytes for the Y coordinate.

The compressed version contains 33 bytes, consisting of 0x02 Y is even or 0x03 Y is oddfollowed by 32 bytes for the X coordinate. Below is a compressed example: Add the first version byte from the address-pubkeyhash-version blockchain parameter to the start of the RIPEMD hash.

For example with 00AFEA This is the address checksum: XOR this checksum with the address-checksum-value blockchain parameter. For example with ABC This is the byte for a 4-byte version binary address: This gives the commonly used address format: Add the first version byte from the private-key-version blockchain parameter to the start of the private key.

For example with B89E: For example with 7B7AEF This is the byte for a 4-byte version key: This gives the commonly used private key format:

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Anyone or any app, program or AI can send bitcoin to the address and the holder s of the private key associated with the address will be able to transact them. First, a little background information is necessary. The scheme begins with a private key from which a public key is derived, and from this public key the bitcoin address is derived. The process is one way, meaning going backwards in the scheme is intractable.

One cannot derive a public key from a bitcoin address, and one cannot derive a private key from a public key. This is possible due to the technique of hashing, a mathematical algorithm that takes data of an arbitrary size and outputs a string of a fixed size, while mathematically covering its tracks.

One-way hash functions are the basis of all modern cryptography. They contain both letters and numbers, both lower and upper case. Bitcoin addresses are alphanumeric. Bitcoin public keys use a BASE58 character set, which does not contain characters that might be visually confused: Bitcoin addresses are 34 characters long. This is generally the case. They can theoretically be as short as 26 characters if the public key that generates them starts with series of leading zeros.

Again, you cannot go backwards in the scheme, so if you wanted a shorter bitcoin address you would have to first start guessing at private keys that produced public keys with leading zeros, which would then lead to a bitcoin address that was shorter than 34 characters. There are bitcoin address generators that perform this process at a computational expense.

Another point of confusion about address length is the font used to display these addresses are generally not monospaced font. However they are actually the same amount of characters.

This is caused by the fact that certain letters take up less width than others. Bitcoin addresses are made up of three parts. A version number 1 byte , a public key hash 20 bytes , and a checksum 4 bytes. The second part of the address, is the hash of the public key as discussed above and takes up 20 bytes. There is no demarcation of these three parts in the address, so they blend together forming the typical 34 characters as seen above. Bitcoin addresses are the third stage of the one-way cryptography scheme: They are typically 34 characters long, however they can be shorter if the public key from which they are derived begins with a series of zeros.

Another great visual representation of creating a bitcoin address. Technical background of bitcoin addresses from the Bitcoinwiki. Knowledge The anatomy of a bitcoin address, commonly confused with a public key By Ledger Staff March 6, No Comments Fist Bumps 1 bitcoin , bitcoin address , public key.

The final 4 bytes of an address is a checksum that ensures the validity of the address. For further research, check out these resources on bitcoin addresses: Another great visual representation of creating a bitcoin address Technical background of bitcoin addresses from the Bitcoinwiki Blackboard series by James DiAngelo on YouTube.

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