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Merge pull request #800 from rating89us/patch-35

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ch04: Base-58 -> Base58
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Will Binns 2021-02-20 21:46:55 +00:00 committed by GitHub
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@ -655,7 +655,7 @@ We will explore how to create transactions that spend funds from P2SH (and multi
==== Vanity Addresses
((("keys and addresses", "advanced forms", "vanity addresses")))((("vanity addresses", id="vanity04")))((("addresses", "vanity addresses", id="Avanity04")))Vanity addresses are valid bitcoin addresses that contain human-readable messages. For example, +1LoveBPzzD72PUXLzCkYAtGFYmK5vYNR33+ is a valid address that contains the letters forming the word "Love" as the first four Base-58 letters. Vanity addresses require generating and testing billions of candidate private keys, until a bitcoin address with the desired pattern is found. Although there are some optimizations in the vanity generation algorithm, the process essentially involves picking a private key at random, deriving the public key, deriving the bitcoin address, and checking to see if it matches the desired vanity pattern, repeating billions of times until a match is found.
((("keys and addresses", "advanced forms", "vanity addresses")))((("vanity addresses", id="vanity04")))((("addresses", "vanity addresses", id="Avanity04")))Vanity addresses are valid bitcoin addresses that contain human-readable messages. For example, +1LoveBPzzD72PUXLzCkYAtGFYmK5vYNR33+ is a valid address that contains the letters forming the word "Love" as the first four Base58 letters. Vanity addresses require generating and testing billions of candidate private keys, until a bitcoin address with the desired pattern is found. Although there are some optimizations in the vanity generation algorithm, the process essentially involves picking a private key at random, deriving the public key, deriving the bitcoin address, and checking to see if it matches the desired vanity pattern, repeating billions of times until a match is found.
Once a vanity address matching the desired pattern is found, the private key from which it was derived can be used by the owner to spend bitcoin in exactly the same way as any other address. Vanity addresses are no less or more secure than any other address. They depend on the same Elliptic Curve Cryptography (ECC) and SHA as any other address. You can no more easily find the private key of an address starting with a vanity pattern than you can of any other address.