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Problem with BitcoinCash Addresses to Be Solved Soon

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The Bitcoin hard fork had been conducted in 2017, and as a result, BitcoinCash appeared, causing some problems. In particular, there was confusion with the addresses that were created in the Cash network, but they had the same format as Bitcoin. Due to this error, you could send your funds from the BCH chain to the BTC chain, as the address could completely coincide, so you lose your money forever.

In November, Bitcoin ABC developers reported on the update of CashAddr, and last Tuesday the update was presented to the public. To implement it, it is necessary that all users, trading platforms, and wallet vendors companies update their software. In order to quickly get used to changing the address format, an additional tool is developed.

The update promises a simplified address format, the ability to encode into QR code, and an advanced error detection algorithm. Accordingly, the update does not allow the user to make an erroneous transfer. Amari Seshet offered the users to update your software Sunday, January 14th.

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