VANITY ADDRESSES IN DIGITAL CURRENCY WORLD

solexybaba (73)in PussFi 🐈 • 24 days ago

Hello to everyone in this great community today and on this wonderful platform at large. I greet you all in good spirit and I want to believe that you all are doing just alright this day and if so, we give praise to the creator for the sustainability of life this far.

I welcome you all to yet another amazing week before us all today. I also want to believe that we all had a lovely week that has just ended and as well, enjoying the current week without stress.

Today, I believe that this is my second contact with you all in this lovely community and as such, I am here to discuss with you all regarding an important that I have compiled to dish out to you all. Today, we will be talking about Vanity addresses in crypto.

This is going to be an interesting topic that you do not want to miss any bit of it, as such I urge you all to stay out and relax while I begin the teaching for today. I wish you all a happy reading as began.

Before we begin, it is expedient that we understand certain terms regarding the digital assets as this will give us a headway to today's teaching.

The digital currency atmosphere was built on a decentralised system of operation. Here it entails that a user is responsible for his cryptocurrency. On that note, everyone is responding for his/her own passphrases to their respective wallet which stores their cryptocurrency assets when sent to their wallet addresses.

CRYPTOCURRENCY ADDRESS

In the crypto world, there is what we call Address and this address is said to be a location where a digital currency can be sent to. Every cryptocurrency enthusiast has his/her own wallet addresses of which crypto currency assets are stored and just as I have said earlier, the digital currency address is used for the purpose of receiving and storing digital currency on the wallet.

Source

The address is unique in such a way that it is a combination of letters and numbers just the way the password to our wallet is. These addresses are unique and each user on this space has a unique address of which crypto assets are received. A wallet can receive various cryptocurrency assets depending on the network of the said asset.

Now with the above know on what a digital asset wallet is, it is high time we hit the nail on the head and that is talking intensively regarding the teaching for the day.

WHAT ARE VANITY ADDRESSES?

The term vanity addresses in crypto world is regarded as a particular wallet that is very special and unique, having a sequence of certain characters that was chosen by the user in question.

Source

These addresses are carefully selected by certain individuals, firm, or group of people working in a particular company. The vanity addresses are often used especially on two major crypto assets network such as the Bitcoin network, as well as the Ethereum network. These networks are used especially for the purpose of recognition. The vanity addresses are mostly used on the Bitcoin and Ethereum Blockchain change in other for it to be recognised very fast.

HOW TO CREATE VANITY ADDRESSES

Creating vanity addresses is not that difficult, all you need to do is make use of an algorithm that tries a multiple combination over and over again until the said algorithm locate an address that has the combination of the character you have chosen. Although this is tedious because this process is being carried out with the assistance of a computer, hence it can take a while lot of time during the search and trial.

Source

For your computer to carry out this process, you should make sure that the computer has enough capacity and power for it to undergo such process especially when creating a vanity address with a long custom sequence.

THE USE OF VANITY ADDRESSES

Vanity addresses as said earlier are unique and special. They are used especially by big firms and large companies for the purpose of making their address recognisable to their customers as the case may be. Vanity addresses are easily identified due to their unique character. As used by large companies, individuals can easily identify their wallet without stress due to it unique characters.

CONCLUSION

Vanity addresses is Very essential and helps large companies in a way that the wallet is recognised and can be identified by individuals. This will reduce the level of sending crypto assets to wrong addresses on seeing the address. With the uniqueness of the addresses, an individual can pinpoint if the address is correct due to the reoccurrence of a particular number or letter in the wallet.

Source