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* [Bitcoin-development] BIP-13
@ 2012-02-20 11:17 Michael Grønager
  2012-02-20 14:18 ` Luke-Jr
  2012-02-20 17:17 ` Gavin Andresen
  0 siblings, 2 replies; 8+ messages in thread
From: Michael Grønager @ 2012-02-20 11:17 UTC (permalink / raw)
  To: Bitcoin Dev

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)





^ permalink raw reply	[flat|nested] 8+ messages in thread

end of thread, other threads:[~2012-02-22 16:44 UTC | newest]

Thread overview: 8+ messages (download: mbox.gz / follow: Atom feed)
-- links below jump to the message on this page --
2012-02-20 11:17 [Bitcoin-development] BIP-13 Michael Grønager
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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