slides-05-tesla.md

Bitcoin Addresses

Oliver Gugger

Full Stack Engineer at Puzzle ITC
github.com/guggero
@gugol
slides: https://gugger.guru

What's an address?

Private key

Public key

Public key hash

Address

Example

a9b23dfcef4c91f99ceba1f4a6b41a9d5697752a51c91245fc82241827cb665e

02aff13521de73d1fd8825d1dd9f10e2724dcdeb688fccf92a60d2a259cdad9cba

008cc0ce803547b6efe4c68524f5d269837e01ea432754e41d

1DqEaJDBgpxc8QtETz4b5uMSEkgCbLRacU

What's base58?

• Human friendly encoding
• Checksum and version

0x00: 1DqEaJDBgpxc8QtETz4b5uMSEkgCbLRacU

0x05: 3EXFVqhdEjGzDaafb5jBWXiNPGxv9g7zVU

0x30: LY4BqWX1mVCfPDaPe83tMvRCSy3UjnKR5u

0x1e: DHyL7Z9pzErtfR4qCa49dfX37tQVxoLq6g

0x6f: mtMBsMJAVrPruXMrBZ2xupZm6kGuVu6TSZ

• Future: bech32

BIP32

• Bitcoin Improvement Proposal #32
• Hierarchical Deterministric Wallets
• Before / After:

   

• Every address has a path: m/0'/0

BIP32 Extended Keys

• Branches of the tree
• Extended Private Key: xprv...
  • Can spend entire branch
• Extended Public Key: xpub...
  • Can generate addresses for branch

BIP39

• Mnemonic code for generating deterministic keys
• 2048 pre-defined words, 11 bits per word
• Before:

  183a4aac1355fbdf0f480a6b1714ba7943f315b3d7503b6540542a762404e094
  

8211f9ca0cf7abc5f084bd0085c9482ed891c29d9a475bf0e5f9e3ccb09a62de

• After:
  

  gospel brown tuition leave damage announce
  

sphere private timber pole someone artefact

BIP44

• Multi-Account Hierarchy for Deterministic Wallets
• Every coin gets a number assigned

m / purpose' / coin_type' / account' / change / address_index

• Example:

m/44'/5'/0'/0/7441

Thank you!

Questions?