Trezor Crypto Hardware Wallets To Open Cashaddr Bitcoin Cash Addresses


Trezor Set To Incorporate Cashaddr To Its Wallets

Amidst the uncertainties concerning the fluctuating value of cryptocurrencies, Bitcoin Cash users can find something to rejoice. Recently, Trezor announced an impending support for cashaddr, an address format for BCH. The support by the world’s most popular hardware wallet certainly promises a big future for Bitcoin Cash, including the possibility of an increased value. Moreover, it also comes with increased security, a factor that could impel an influx of BCH investors.

The news of the ongoing development of cashaddr arrived in a rather peculiar way. Jason Elliot, a prominent Twitter BCH enthusiast, tweeted to cold storage wallet makers asking when they will integrate cashaddr. Cashaddr is a protocol developed to avoid the confusion of addresses within the BCH blockchain. In response to Jason’s tweet, Bach N. from Trezor revealed that his firm was working on the integration of Cashaddr. To back his response, Bach embedded a GitHub link.

Upon opening the GitHub link, it reveals that Josh Hoenicke is the developer of Cashaddr #285. The project has 3 commits, with the most conspicuous one being Pavol Rusnak’s. Pavol is acknowledged for creating the Cashaddr concept, a standard meant to distinguish BTC addresses from those of BCH.

Hoenicke reiterated that the project has to be done outside the firmware that supports Cashaddr. He added that only the final step from the hashed public key address requires alteration. Afterward, the web wallets verifies that the address retuned by Trezor is the expected one. This check will also allow addresses with 1 as their prefix, meaning that it is compatible with older firmware.

Currently, the firmware supports both versions, which both use SPENDADDRESS. The only noticeable variation is the confirmation message users get; otherwise, the transaction format remains unchanged.

The above-mentioned approach contrasts with the warning issued by Rusnak, prior to the fork that resulted in the establishment of BCH. He suggested that the address format be altered, so that the address of BCH are easily identifiable (e.g. they can being with C).

Amaury Séchet, BCH’s lead developer, admitted that there are plans to change the address format. Nonetheless, he added that the process would be expensive, and h would explore options other than just changing the prefix before settling on a particular choice. Eventually, Cashaddr proved to be an apt way of elimination the confusion.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide