From: "Michael Grønager" <gronager@ceptacle•com>
To: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: [Bitcoin-development] BIP-13
Date: Mon, 20 Feb 2012 12:17:01 +0100 [thread overview]
Message-ID: <3DA9C79B-D91D-48B2-9469-37BAA037FC50@ceptacle.com> (raw)
Just posted this on the wiki BIP-13 discussion - should I make it into a BIP of its own ?
---
The "version" portion of the address has so far been labeled "network id", and indicates from which network and which chain the address can be used for. I think that this change from network id to version is much more fundamental and should not just be squeezed in along with bip16/17. The right way to do this is to structure the bitcoin address into:
base58-encode: [one-byte network ID][20-byte hash][one-byte address class][3-byte checksum]
This will move the possibility of using a faulty address from 1 to 4bill to 1 to 24mio. Recall that for most other payment systems this checksum is 1 to 9! So it should be sufficient. An old client will then render the new addresses as useless and they will still maintain their old familiar 1xxx look - the whole point in multisig is that it should not be a matter of the paying party to worry about securing wallet of the receiver, hence he should not be bothered with a new "3" kind of address now... --Michael Gronager/libcoin 10:49, 20 February 2012 (GMT)
next reply other threads:[~2012-02-20 11:17 UTC|newest]
Thread overview: 8+ messages / expand[flat|nested] mbox.gz Atom feed top
2012-02-20 11:17 Michael Grønager [this message]
2012-02-20 14:18 ` Luke-Jr
2012-02-20 15:47 ` Michael Grønager
2012-02-20 17:17 ` Gavin Andresen
2012-02-20 21:29 ` Michael Grønager
2012-02-22 16:29 ` Michael Grønager
2012-02-22 16:40 ` Gavin Andresen
2012-02-22 16:43 ` Luke-Jr
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