Digital currency wallet address distinction

A digital currency wallet address is a unique identifier used to receive and send funds. Different types of wallet addresses vary depending on their underlying blockchain and cryptocurrency, and can be primarily distinguished into public key-based addresses (such as public key hash-based addresses in Bitcoin and Ethereum) and script-based addresses (such as Bitcoin P2SH address in currency and smart contract address in Ethereum). Additionally, wallet addresses can be further differentiated based on length, prefix, and format to ensure secure and irreversible transfers of digital assets.

Digital currency wallet address distinction

The digital currency wallet address is a unique identifier used to receive and send digital assets . There are many different types of wallet addresses, depending on the blockchain and cryptocurrency used.

Public Key Based Address

• Bitcoin (BTC) and Litecoin (LTC): Based on a public key called Ha The address of the public key of P2PKH, usually starting with "1".
• Ethereum (ETH): An address based on a public key called a Keccak-256 hash (P2PKH), starting with "0x" followed by 40 hexadecimal characters.

Script-based Address

• Bitcoin (BTC): P2SH (Pay-to-Script-Hash) address, allowing Bitcoin to be sent to a script instead of a single address to facilitate complex transactions.
• Ethereum (ETH): Smart contract address, used to deploy and execute smart contracts, starting with "0x" followed by 40 hexadecimal characters.

Other types of addresses

• Multi-sig (Multi-sig) address: Requires multiple private key signatures Unlock the address of your funds for enhanced security.
• Segregated Witness (SegWit) address: More efficient than traditional addresses, taking up less space, starting with "bc1" followed by a string.
• Bech32 Address: Start with "3" or "bc" for SegWit addresses for Bitcoin and Litecoin.

Distinguish between different types of wallet addresses

• Length: Different types of addresses have different lengths, such as Bitcoin addresses usually is 34 characters, while an Ethereum address is 42 characters.
• Prefix: Some address types have specific prefixes, such as Ethereum addresses starting with "0x" and SegWit addresses starting with "bc1".
• Format: Different types of addresses have unique formats, for example P2PKH addresses start with a number, while P2SH addresses start with the number "3".

Please note that while different wallet addresses are for different blockchains and cryptocurrencies, they are all secure and irreversible methods of receiving and sending digital assets.

The above is the detailed content of Digital currency wallet address distinction. For more information, please follow other related articles on the PHP Chinese website!