Tutorial - Address Generation

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The private key deterministically generates the public key, which deterministically generates the public address the same private key will always generate the same public key and public address. Compressed public keys are now widely used amongst the most popular bitcoin software.

The public address of a compressed public private key bitcoin generator is different than the public address of the uncompressed public key.

This utility file can be downloaded here. Bear in mind that the elliptic curve is defined over a prime field, so our private key must be less than our chosen prime. Did I mention that this implementation should only be accepted as academic experimentation?

These are merely different representations of the same thing, and are all equivalent. We could actually stop here. These random bits ARE your private key, but if you want to use this key with any mainstream bitcoin application, the private key must be in wallet import format WIF format. Compression flag is private key bitcoin generator to make private keys completely deterministic. As stated above, compressed and uncompressed public keys generate different public addresses.

The compression flag signals which of those addresses this private key should generate. Checksum is the first private key bitcoin generator bytes of the double sha hash of our input. It is used to ensure that every bit is correct; if a single bit is off mistypedwe will know about it. We currently have 38 bytes of data. Using the digits Using hex 16 possible characters we express this in 76 characters as shown above.

If we use 58 possible characters, the data can be expressed in only 52 characters. The characters used for Base58 are:. This is where Elliptic Curve Cryptography comes in. When we multiply the generator point with our private key, we get a new point on the elliptic curve. The x and y cooordinates of this point act as our public key. Every application which uses the secpk1 curve uses the same generator point.

Because elliptic curves are symmetric about the x axis; given any private key bitcoin generator coordinate, there exist only 2 possibilities for the y coordinate. Uncompressed public keys include the full y coordinate a really big numberbut we can save space private key bitcoin generator the blockchain by indicating which of the 2 possible y-coordinates we use. Why must the 2 y coordinates have unique parity? Because the elliptic curve is over a prime finite field, when we change sign, we flip parity.

We can now share this address with our friends, convert it to a QR code, get it tatooed on our bodies, and watch the bitcoins rush in.

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It inspired me to write another obfuscated Python script. The following is valid Python code:. Each time you run this script, it generates a Bitcoin address with a matching private key. Basically, this little script gives you the ability to throw some money around. Allow me to demonstrate. Fortunately, I do have the private key. It was generated by the Python script too. There you have it. Bitcoin addresses are created out of thin air. It then multiplies that number by an elliptic curve point to find the matching public key.

The public key is shortened by a hash function, producing a Bitcoin address. Finally, both private key and address are encoded as text. Most Bitcoin wallet applications generate addresses in exactly this way. Randomness ensures that each address is unique. With addresses created out of thin air, you might worry that two different Bitcoin wallets will eventually generate the same address.

There are 2 possible Bitcoin addresses. You must keep your private keys safe! The security of your bitcoins depends entirely on your ability to keep your private keys secret.

If you lose access to your wallet, you lose your bitcoins. Likewise, if a thief gains access to your wallet, and bitcoins are still stored at any address inside it, he or she could steal those bitcoins within seconds. Indeed, such thefts happen regularly. In researching Bitcoin, I found that there are a lot of smart people who understand Bitcoin very well, and a lot of people who know almost nothing about it. Luckily, the first group has created plenty of resources for learning more.

This post was pieced together from information on Wikipedia , this blog post , the Bitcoin wiki , and the original white paper.

The following is valid Python code: Electrum considers those 0.