Difference between P2WSH and P2SH addresses
In the world of Ethereum, two types of solutions for storing contracts have been used for years: Hash of the Public Key (P2SH) and Hash of the private key (P2WSH). Although both types of addresses are designed to safely store private keys and private management, there is a fundamental difference between them, which surprised programmers and users.
beginnings of P2SH
The public key key address was first introduced in 2014 as part of the Bitcoin protocol. They use the SHA-256 cryptographic function to create a unique address for each transaction. The resulting address is a combination of the sender’s public key and a randomly generated abbreviation. This project ensures that each user has equal chances to receive any amount of cryptocurrency, regardless of their individual private keys.
Hash of the private key (P2WSH)
In 2015, the private abbreviation addresses were introduced in 2015 as part of the Ethereum protocol. They use the same SHA-256 cryptographic function, but store a private key separately from its public counterpart. This means that if you want to recover a private key, it must be stored next to the appropriate public address.
Why the P2WSH addresses are larger
So why do P2WSH addresses seem larger than their P2SH counterparts? The answer lies in the requirements for storing both types of addresses.
When using the P2SH address, the shortcut function generates the output data, which includes not only the sender’s public key, but also a private key. This is done to ensure safe and decentralized private keys management. However, this additional information requires more storage space than one public key.
And vice versa, when using the P2WSH address, only the sender’s private key is stored next to their public address. Because the public key does not require any additional data, the resulting address has less memory costs compared to the P2SH address.
influence on the development of blockchain
This difference in storage requirements may have significant implications for blockchain development and user experience. For example:
* Increased security : By storing private keys along with appropriate public addresses, programmers can ensure that users have access to their most sensitive information.
* Improved utility : Users can prefer the simplicity of P2WSH addresses that require less storage space and are easier to manage.
* optimized implementation : Programmers may require optimization of blockchain implementation strategy to take into account the differences in the size of the address.
To sum up, while both P2SH and P2WSH addresses the SHA-256 cryptographic function to secure private keys, the requirements of storage of each type have clear implications. Understanding these differences, programmers and users can better design and implement intelligent contracts that meet the unique needs of their appropriate ecosystems.
Because the Ethereum community still introduces innovation and improves blockchain infrastructure, it is necessary to confirm and solve this basic difference between P2SH and P2WSH addresses.