Cryptocurrency Q&A What is a p2pkh address in Bitcoin?

What is a p2pkh address in Bitcoin?

SakuraSmile SakuraSmile Tue Jul 09 2024 | 8 answers 1739
In the vast world of Bitcoin and its underlying technology, a fundamental question often arises among enthusiasts and newcomers alike: "What is a p2pkh address in Bitcoin?" P2PKH, short for "Pay-to-Public-Key-Hash," is a type of address format that facilitates the transfer of Bitcoin from one user to another. This address is essentially a hashed version of a public key, serving as a unique identifier for receiving funds on the Bitcoin blockchain. Put simply, when Alice wants to send Bob some Bitcoin, she needs to know Bob's p2pkh address. This address is generated from Bob's public key through a cryptographic hashing algorithm, ensuring the integrity and authenticity of the transaction. As the recipient, Bob can then use his private key to access and spend the funds sent to his p2pkh address. The p2pkh address format plays a crucial role in maintaining the security and privacy of Bitcoin transactions, allowing users to safely interact with the network and exchange value in a decentralized manner. What is a p2pkh address in Bitcoin?

8 answers

AzurePulseStar AzurePulseStar Thu Jul 11 2024
In the realm of Bitcoin, the process of converting a public key into an address serves a crucial purpose.

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Valentina Valentina Wed Jul 10 2024
For instance, a P2PKH (Pay-to-Public-Key-Hash) address represents a traditional locking mechanism.

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GeishaCharm GeishaCharm Wed Jul 10 2024
Alternatively, a P2WPKH (Pay-to-Witness-Public-Key-Hash) address leverages the SegWit (Segregated Witness) protocol, offering improved scalability and transaction efficiency.

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Martino Martino Wed Jul 10 2024
This conversion not only shortens the key but also enhances its user-friendliness, especially when engaging in transactions using bitcoin wallets.

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KpopMelody KpopMelody Wed Jul 10 2024
The resulting addresses contain a hashed version of the public key, providing a secure yet concise representation.

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