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Code Issues Releases Wiki Activity

moved paragraph about WIF-compressed format

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Andreas M. Antonopoulos 2014-05-26 19:16:39 -04:00
parent 64ecbed6b6
commit 399cfb16f2
1 changed files with 2 additions and 1 deletions
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@ -333,6 +333,8 @@ To resolve this issue, when private keys are exported from a wallet, the Wallet
Ironically, the name "compressed private key" is misleading, because when a private key is exported as WIF-compressed it is actually one byte _longer_ than an "uncompressed" private key. That is because it has the added 01 suffix which signifies it comes from a newer wallet and should only be used to produce compressed public keys. Private keys are not compressed and cannot be compressed. The term "compressed private key" really means "private key from which compressed public keys should be derived", whereas "uncompressed private key" really means "private key from which uncompressed public keys should be derived". You should only refer to the export format as "WIF-compressed" or "WIF" and not refer to the private key as "compressed" to avoid further confusion.
Remember, these formats are _not_ used interchangeably. In a newer wallet that implements compressed public keys, the private keys will only ever be exported as WIF-compressed (K/L prefix). If the wallet is an older implementation and does not use compressed public keys, the private keys will only ever be exported as WIF (5 prefix). The goal here is to signal to the wallet importing these private keys whether it must search the blockchain for compressed or uncompressed public keys and addresses.
If a bitcoin wallet is able to implement compressed public keys, then it will use those in all transactions. The private keys in the wallet will be used to derive the public key points on the curve, which will be compressed. The compressed public keys will be used to produce bitcoin addresses and those will be used in transactions. When exporting private keys from a new wallet that implements compressed public keys, the Wallet Import Format is modified, with the addition of a one-byte suffix +01+to the private key. The resulting base58check encoded private key is called a "Compressed WIF" and starts with the letter K or L, instead of starting with "5" as is the case with WIF encoded (non-compressed) keys from older wallets.
Here's the same key, encoded in WIF and WIF-compressed formats
@ -347,7 +349,6 @@ Here's the same key, encoded in WIF and WIF-compressed formats
| WIF-compressed | KxFC1jmwwCoACiCAWZ3eXa96mBM6tb3TYzGmf6YwgdGWZgawvrtJ
|=======
Remember, these formats are _not_ used interchangeably. In a newer wallet that implements compressed public keys, the private keys will only ever be exported as WIF-compressed (K/L prefix). If the wallet is an older implementation and does not use compressed public keys, the private keys will only ever be exported as WIF (5 prefix). The goal here is to signal to the wallet importing these private keys whether it must search the blockchain for compressed or uncompressed public keys and addresses. {YOU NEED TO SAY THIS SOONER}
[TIP]
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