New Code Release Means Bitcoin Cash Addresses Are Just Around the Corner
The bitcoin cash community moved one step closer to having their own address format today with the release of Bitcoin ABC 0.16.2. The full node implementation of BCH includes a switch to a proprietary address format to distinguish it from bitcoin core. It is hoped that this will eliminate issues of BCH being sent to Segwit BTC addresses in error and help further distinguish bitcoin cash from the rest of the cryptocurrency market.
Also read: The Bitcoin Cash Community Prepares for ‘Change the Address Day’
Moving to a New Address
As news.Bitcoin.com reported two weeks ago, the bitcoin cash community is gearing up for “Change the Address” day, which is scheduled to take place on January 14. That’s when the address format proposed by Bitcoin ABC developer Amaury Séchet will be adopted. Today, those plans were formalized with the release of Bitcoin ABC 0.16.2. It includes a number of improvements to the bitcoin cash protocol, but the most notable is the addition of Cashaddr.
This utilizes the bech32 codebase and will apply benefits over and above a less confusing wallet address format. For instance, the new address system will make it easier to create QR codes and will pave the way for multi-party smart contracts to be added further down the line. A basic bitcoin cash address conversion tool is already in place, which demonstrates how the new address format will look. Security researcher Dean Pierce has also created his own version, which shows how legacy BCH addresses compare to their new bech32 counterparts.
The new Bitcoin ABC code is available for scrutiny now ahead of its implementation later this month. With the growth of Localbitcoincash, increased merchant adoption and codebase enhancements, 2018 looks set to be a good year for fans of the peer-to-peer cryptocurrency.
What do you think about ‘Change the Address Day’ scheduled for January 14? Let us know in the comments section below.
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