arno/bitcoinbook
1
0
Fork 0
mirror of https://github.com/bitcoinbook/bitcoinbook synced 2025-02-16 17:42:06 +00:00
Code Issues Releases Wiki Activity

further explain WIF-compressed

Browse Source
This commit is contained in:
Andreas M. Antonopoulos 2014-05-24 12:16:12 -04:00
parent 89fb743be5
commit 4d78debacc
1 changed files with 2 additions and 2 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

4
ch04.asciidoc
View File

@ -308,11 +308,11 @@ Here's the same key, encoded in WIF and WIF-compressed formats:
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.
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".
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.
[TIP]
====
"Compressed private keys" is a misnomer! They are not compressed, rather they signify that they should only be used to derive compressed public keys and their corresponding bitcoin addresses. Ironically, a "compressed" private key is one byte longer because it has the added 01 suffix to distinguish it from an "uncompressed" one.
"Compressed private keys" is a misnomer! They are not compressed, rather the WIF-compressed format signifies that they should only be used to derive compressed public keys and their corresponding bitcoin addresses. Ironically, a "WIF-compressed" encoded private key is one byte longer because it has the added 01 suffix to distinguish it from an "uncompressed" one.
====
==== Wallets