How are unique public address generated in bitcoin

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Hi.. The bitcoin public addresses are unique. I want to know how bitcoin exchanges generate unique public addresses.
Jul 16, 2018 in Blockchain by digger
• 26,740 points

1 answer to this question.

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In brief, the public addresses are generated using a random number generator which is Crypto-Secure. Let me show you
an example of how addresses are generated.

0 - Having a private ECDSA key

1 - Take the corresponding public key generated with it (33 bytes, 1 byte 0x02 (y-coord is even), and 32 bytes corresponding to X coordinate)

2 - Perform SHA-256 hashing on the public key

3 - Perform RIPEMD-160 hashing on the result of SHA-256

4 - Add version byte in front of RIPEMD-160 hash (0x00 for Main Network)
(note that below steps are the Base58Check encoding, which has multiple library options available implementing it)

5 - Perform SHA-256 hash on the extended RIPEMD-160 result

6 - Perform SHA-256 hash on the result of the previous SHA-256 hash

7 - Take the first 4 bytes of the second SHA-256 hash. This is the address checksum

8 - Add the 4 checksum bytes from stage 7 at the end of extended RIPEMD-160 hash from stage 4. This is the 25-byte binary Bitcoin Address.

9 - Convert the result from a byte string into a base58 string using Base58Check encoding. This is the most commonly used Bitcoin Address format

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answered Jul 16, 2018 by slayer
• 29,350 points

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