why not we simply use one type of deal with sort, corresponding to legacy p2pkh?
As a result of different deal with varieties serve totally different functions that can not be achieved with P2PKH.
For instance multisig addresses can both present better safety towards sure varieties of risk or can contain a number of events in some scheme.
Improved varieties like P2SH and P2WSH present higher privateness and supply for scaling the Bitcoin community – offering extra capability for transactions. This can’t be achieved utilizing P2PKH.
if we solely use the unique bitcoin deal with format, aka. the legacy p2pkh. Is it doable to implement different codecs’ features?
As a result of we use the phrase “deal with”, folks generally misunderstand the character and objective of a Bitcoin deal with. It’s not a designator of a recipient.
An deal with is a recipe for a selected sort of locking script, it’s a full recipe that accommodates all the data wanted by a payer to assemble a locking script that pays the recipient utilizing a script-type specified by the recipient in the deal with.
If an deal with might be used with a number of totally different locking scripts, then along with their deal with, the recipient must present an inventory of script-types acceptable to them and their pockets software program. The deal with was supposed to do the entire of this job.
That is why many individuals really feel that “Bitcoin bill reference” might need been a greater title than “Bitcoin deal with”.
Bear in mind: Bitcoin addresses don’t exist within the Bitcoin community protocols and should not used within the Bitcoin community. Addresses, as such, don’t seem within the Bitcoin blockchain
Bitcoin addresses are a comfort however not a necessity. The Bitcoin community would work completely nicely if no person ever used addresses however used another methodology of speaking desired locking scripts in QR barcodes and so on.
The explanation I make this level is just not as a result of I wish to eliminate addresses however as a result of I feel folks will likely be higher off to let go of a number of the irrelevant semantic baggage related to the phrase deal with from its on a regular basis non-Bitcoin utilization.
