What is the difference between "Bitcoin wallet ID" and "Bitcoin wallet address"?
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CashAddr is a new Bitcoin Cash address format. This is what is getting a new format. We encourage you to use the new addresses, but this is not mandatory. If you notice that your favorite wallet or service is not yet upgraded to support CashAddr, it is helpful to make them aware of the new format.
Technically yes, but we strongly encourage bitcoin wallet address format to upgrade. If you have a legacy address that is currently being used, it will continue working. However, most users should upgrade because the new addresses are safer. Moreover, the user experience will be enhanced when everyone is using the same format. The address format is just an encoding.
Consider the fact that you can always talk to your friends, regardless of what clothes either of you happen to be wearing. You can convert from the old format to the new format, or from the new format to the old format. If you are going to use any converter tools, it is very important to only use trusted ones, as there exists the possibility for a malicious tool to give you a fake address.
Any legacy Bitcoin address format will convert to one and only one CashAddr format, bitcoin wallet address format the same is true in reverse.
So there will always be 2 versions legacy and CashAddr of any given address, and they are interchangeable because they correspond to the same set of private and public keys. The money will still show up at his old address since its really the same address, just encoded differently. Why did bitcoin wallet address format Bitcoin Cash development community decide to create a new address format? As a distinct ledger and cryptocurrency, Bitcoin Cash should have its own address format, which will reduce errors and confusion for users.
Aside bitcoin wallet address format offering a distinct address format, the new format is case-insensitive, which makes addresses easier to type and communicate between humans. It is also extensible, so that the format would not need to be changed in the future as new Bitcoin Cash functionality is added.
The new address format does not change the format of these transactions on the blockchain, but rather: What do the new addresses look like?
