Ethereum: Why is Bitcoin address encoded in base58?

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Secret Bitcoin address Coding: Understanding Base58

When sending and receiving bitcoin on the network, users rely on a unique address that uniquely identifies their wallet. However, behind the scenes, Bitcoin -O’s address of the address of the address uses an advanced code called Base58. In this article, we will investigate why Bitcoin addresses are encoded at Base 58 and investigate how to provide both security and efficiency.

Purpose of Coding Address

Bitcoin -the address of the address is not just a cosmetic feature; This plays a key role in protecting the confidentiality of transactions and ensuring that users can regain their funds, even if they lose or mislead the phrases of the semen of the wallet. Here are some reasons why Base 58 was chosen:

• Security : Base58 uses a combination of letters, digits and special characters to create a unique hash function. This makes it safer than simple encryption schemes such as base64, which are subject to force attacks.

• Efficiency : Base58 uses a hierarchical algorithm, where each sign corresponds to a certain byte in the output series. This allows effectively compression of large addresses, reduction of storage requirements and improvement of transaction speed.

• Coincidence

  

  : Using special characters like!, @, #, $ Etc. .

How is Base58

Base58 Coding uses a variant of the filter algorithm Bloom, which Ronald Rivest developed in 1979. The original floral filter has an average time complexity of (1), which makes it effective for large data sets. However, it is not designed for cryptographic purposes; Instead, it is optimized for a quick search time.

For coding bitcoin addresses at Base 58, the following steps are taken:

• HASH function : SHA-256 Hash is generated from a combination of seminarians and transaction data.

• Codes of characters : Each byte in an exit string hash -a is copied in a sign using a particular scheme:

*! (most often): 0x00

* @: 0x01

* #: 0x02

* $: 0x03

* %: 0x04

• Character Combination : Coded signs are merged into the formation of a series.

Why Base58 isn’t Base64

Although it may seem counter -attack that Bitcoin addresses would be encoded at Base 58 instead of at Base 64, which is usually used to codes text data, there are several reasons why this choice is made:

• Performance

  : Base64 has higher computer directing costs than Base58, making it slower and less effective for large data sets.

• Safety : As mentioned earlier, hierarchical algorithm Base58 provides better security features than base 64.

• Efficiency : Base58 coding scheme enables a more effective compression of large addresses, reducing the storage requirement and improvement of transaction rate.

Conclusion

The choice of base 58 as a bitcoin address coding is a deliberate design decision aimed at providing and safety and efficiency. Using a hierarchical algorithm, ensuring the coincidence and mapping of characters to certain bytes, Base58 provides a safe and reliable way to check authenticity and ownership of their monetary wallets. Whether you are an experienced Bitcoiner or just starting, understanding the mechanics behind the code code will give you a deeper gratitude for the complexity and sophistication of this popular blockchain technology.

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Additional Resources:

• Official Bitcoin Whitepaper (Section 2.1) provides more information on how Base58 was selected.

• Protocol specification Bitcoin (RFC 6978) includes details of the address of the address.

• Ethereum Whitepaper (Section 4.6) talks about using a similar coding scheme for Ethereum addresses.

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