Enter your Bitcoin address to generate a Bitcoin shortcode
Total Bitcoin address collected
Bitcoin addresses that require processing
WalletAddr (Bitcoin Shortcode) is a easily readable identifier for Bitcoin wallet addresses that removes the uncertainty and doubt when transacting Bitcoins between parties.Overview/Problem
There are three properties that are desirable for names in any network protocol (Zooko’s Triangle). Secure, Decentralized and Human-meaningful.
Bitcoin wallet addresses meets two out of three properties. Bitcoin addresses are secure and decentralized but not human-meaningful.
Bitcoin addresses are nearly impossible to memorize. It’s hard to differentiate from one address to another. It’s hard to memorize which address holds which funds by just looking at the address. Also I think most of us can relate to the anxiety we feel every time we transfer crypto between wallet addresses or exchanges. Having to double check or even triple check to confirm the address is the correct address we are sending the funds to.
Bitcoin shortcode is a short alphanumeric string that is easily recognizable and easy to memorize. The shortcodes are generated by applying a set of simple rules to the original Bitcoin addresses. Using a combination of different familiar ideas and techniques, such as “chunking”, separating out alphabets and numbers, and grouping upper and lowercase alphabets.Example
|Bitcoin Shortcode:||678 v-CK-tUP|
The primary use case for the Bitcoin shortcode is providing an easily readable identifier to a Bitcoin wallet address. Another important use case is using the Bitcoin shortcode as a 2-factor authenticator code when sending or receiving funds between Bitcoin wallet addresses.
The shortcode concept does have its limitations. To bring back “Zooko’s Triangle” properties, the shortcode also meets only two out of the three properties. It is human-meaningful and decentralized, but it’s not secure.
The shortcode is human-meaningful. In our case, it’s easily recognizable and memorable. It’s decentralized because the set of rules to create the shortcode are public to everyone. Applying the rules does not require any complex crypto-algorithm or tools. Anyone can create the shortcode for any given Bitcoin address. But It is not secure because it’s mathematically impossible to not get duplicate shortcodes for each Bitcoin address when you shorten the string. There can only be a finite number of unique variations before a duplication occurs.
In order to help alleviate the security issue, I’ve been collecting Bitcoin address that has transacted on the Bitcoin blockchain. The collected data will show if your particular address has duplicates that already exists on the blockchain. Doing this will give the user an informed choice to use a different bitcoin address or not.
It’s important to note that the shortcode is to supplement the Bitcoin address, not to replace it. Both Bitcoin address and shortcode will work side by side. Filling the gap where each fails.
With Bitcoin shortcodes we can make wallet addresses more easily acceptable to everyone. Hopefully help the crypto community gain wider adoption.
Questions or comments? Contact me on LinkedIn.