why not we simply use one sort of tackle sort, akin to legacy p2pkh?
As a result of different tackle sorts serve completely different functions that can not be achieved with P2PKH.
For instance multisig addresses can both present higher safety in opposition to sure kinds of risk or can contain a number of events in some scheme.
Improved sorts like P2SH and P2WSH present higher privateness and supply for scaling the Bitcoin community – offering extra capability for transactions. This can’t be achieved utilizing P2PKH.
if we solely use the unique bitcoin tackle format, aka. the legacy p2pkh. Is it doable to implement different codecs’ capabilities?
As a result of we use the phrase “tackle”, individuals generally misunderstand the character and goal of a Bitcoin tackle. It’s not a designator of a recipient.
An tackle is a recipe for a particular sort of locking script, it’s a full recipe that comprises all the knowledge wanted by a payer to assemble a locking script that pays the recipient utilizing a script-type specified by the recipient in the tackle.
If an tackle may very well be used with a number of completely different locking scripts, then along with their tackle, the recipient must present an inventory of script-types acceptable to them and their pockets software program. The tackle was meant to do the entire of this job.
That is why many individuals really feel that “Bitcoin bill reference” may need been a greater title than “Bitcoin tackle”.
Bear in mind: Bitcoin addresses don’t exist within the Bitcoin community protocols and should not used within the Bitcoin community. Addresses, as such, don’t seem within the Bitcoin blockchain
Bitcoin addresses are a comfort however not a necessity. The Bitcoin community would work completely effectively if no one ever used addresses however used another methodology of speaking desired locking scripts in QR barcodes and many others.
The explanation I make this level is just not as a result of I wish to eliminate addresses however as a result of I feel individuals will likely be higher off to let go of a number of the irrelevant semantic baggage related to the phrase tackle from its on a regular basis non-Bitcoin utilization.
