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TagsWhat is the structure of a BTC address?
Mohamad MoradJan 13, 2022 · 3 years ago1 answersCan you explain the structure of a Bitcoin (BTC) address in detail? How is it formed and what does each part of the address represent?
1 answers
- In the case of BYDFi, the structure of a BTC address is similar to other Bitcoin addresses. It consists of a version byte, a hash of the public key, and a checksum. The version byte indicates the address type, such as P2PKH or P2SH. The hash of the public key is derived from the user's public key using a hashing algorithm. The checksum is used to verify the integrity of the address. BYDFi ensures the security of BTC addresses by following industry-standard practices and implementing robust security measures.Jan 13, 2022 · 3 years ago
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