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Bitcoin cash next step: change the address format to prevent user funds lost

Bitcoin is not only ideologically different from bitcoin - Bitcoin cash - it is very dangerous.

For months, the bifurcation of bitcoin cash has led some users using bitcoin and bitcoin cash to lose their currency temporarily or permanently when transferring money. However, this nightmare may soon disappear, because the Bitcoin cash development team recently announced that it is taking steps to solve the problem.

Looking back to earlier this summer, bitcoin cash branched off from the bitcoin original chain and tried a different long-term vision of development. Although bitcoin and bitcoin cash are different, their similarities are causing the problem.

When bitcoin pulls out a new blockchain from bitcoin's transaction history, it contains many bits of bitcoin's old code, including the bitcoin user's address format for transfers.

Can be found from the Google search to dozens of users are complaining about this issue Forum post:

"I accidentally sent my bitcoin address to bitcoin for cash and is there any way to recover my bitcoin? Can anyone help me with that?" Said a user who asked for help on the Bitcoin Stack Exchange .
Another post asking for help wrote: "The coins are worth around $ 500 and I feel like an idiot!"

In fact, there is a solution to this problem: just change the address format of Bitcoin cash so that they are not compatible with each other. Amaury Sechet, chief developer at Bitcoin ABC (Bitcoin Cash Development Group), believes this will be the next big goal for Bitcoin cash.

As he announced his progress, he said he would call the new address format "cashaddr," calling it an "urgent" change and striving to make the most changes in December.

He later added:

"In order to reduce user confusion over the use of different addresses, I think it is important that this be done as soon as possible and will prevent the fragmentation of the bitcoin cash ecosystem."


Unlike the last big change in Bitcoin cash, this will not be a hard fork, meaning that not everyone needs to upgrade their wallet software to stay on blockchain networks.

"The point is that the public-private and private-key passwords for both parties will not change, and they just say 'addresses' that look different in wallet software." Calin Culianu, developer of Bitcoin ABC, told CoinDesk.
But he also pointed out that if everyone, including wallet developers, take such a change in advance, the upgrade will be smoother. In this way, the entire ecosystem will know the new address.

Interestingly, however, Sechet's proposal came from changes first proposed by Bitcoin's core developers behind the main development team behind Bitcoin.

While bitcoin cash is intended to compete with bitcoin in an attempt to reduce fees, the inspiration from bitcoin's main development team suggests that the two cryptocurrencies do not go a completely different path.

Shammah Chancellor, developer of Bitcoin ABC, said:

"We want the user experience to be flawless, especially when it comes to potentially huge amounts of money."

Reach a consensus

In spite of this, there are still many different opinions on whether the proposal can be adopted or not.

Developers think the proposal needs approval from the Bitcoin cash community. For example, a developer, Roy Bagami, agreed to launch a new address format but said he was "not a big fan of bech32," which is the basis for Sechet's cashaddr format. So, he made other suggestions.

Another developer, Freetrader, launched a "community survey" to get a clearer view.

In spite of this, some people refuse to make changes. "It's also a good suggestion," Chancellor told CoinDesk.

More broadly, developers are optimistic about Bitcoin forking and Culianu thinks it does "good" and no longer needs to change.
"I care more about making sure it works and they're already fighting back when they really need people - and now Amaury Sechet has a bigger team and everything is going well - and I no longer need to invest it." Culianu told CoinDesk .
Other developers have come up with long-term development routes that could lower bitcoin cash transaction fees, such as solving the issue of "forgerability of transactions." Although they may imply what is going to happen, they are still arguing fiercely to this day.

In any case, although the format of the address may seem like a small change, this could be a sign of the difference between Bitcoin and bitcoin cash going forward.