Problem with BitcoinCash Addresses to Be Solved Soon

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.


Publication author

offline 4 hours


Comments: 0Publics: 1432Registration: 29-07-2017
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto Consulting FZE
Free copying and distribution of materials from the Cryptoconsulting site is allowed only with the indication of an active link to Cryptoconsulting source. Specifying a link is also mandatory when copying content to social networks or print editions.

Copyright © 2017 CryptoConsulting

To Top
A password has not been entered
Password generation