The Bitcoin cash community moved one step closer to have their own address format with the launch of Bitcoin ABC 0.16.2 on 3rd January 2018. The complete node implementation of BCH carries a switch to a proprietary address format to differentiate it from Bitcoin core. It is estimated that this will remove problems of BCH being sent into Segwit BTC addresses by mistake and help further to differentiate Bitcoin money from the rest of the crypto-currency marketplace.

Moving to a New Address

The Bitcoin Money community is gearing up to Change the Address, which is being scheduled to happen on 14th January 2018. That is when the address format suggested by Bitcoin ABC programmer Amaury Séchet Will be embraced. Now, those programs were formalized with the launch of Bitcoin ABC 0.16.2. It includes several developments to the Bitcoin cash protocol, but the most noteworthy is the inclusion of Cashaddr

This uses the bech32 codebase and will employ advantages over and above a perplexing wallet address format. For example, the new address system will make it simpler to make QR codes and also will pave the way for multi-party smart contracts to be added down the line. A fundamental Bitcoin cash address conversion application is currently set up, which shows the way that how the new address format will appear. Security researcher Dean Pierce has also established his own version, which reveals how legacy BCH addresses compare with their own brand new bech32 counterparts.

The newest Bitcoin ABC code is currently available for evaluation ahead of its execution after this month. Together with the development of Localbitcoincash, increased retailer adoption, and codebase improvements, 2018 is going to be a fantastic year for fans who are keenly interested in this crypto-currency.

Author's Bio: 

Ricky Makan is a venture capitalist and Crypto Enthusiast best known for pioneering the market for Digital Marketing. He is a Co-founder of Unkrypted, a platform which provides the latest news and information that helps understand everything about the ever-evolving world of digital currencies.