Title: Some BTC addresses start with a "3" Post by: OROBTC on February 07, 2015, 05:10:37 AM ...
When I have nothing better to do, I sometimes browse the blockchain via blockchain.info (http://blockchain.info). Really just to get a better feel for different kinds of transactions and to learn a bit more (some of you know I am a relative beginner who has pretty much had to "learn by doing" and not a programmer). (Some time ago, I asked bitcointalk about addresses that have a small letter (after the 1) vs. a CAPITAL letter, and I also asked about how a small percentage of addresses have ONE less alphanumeric in their addresses vs. the overwhelming majority of others. The answers I received explained BOTH points very well. Thanks!) Well, here is another little oddity I have seen recently. A small percentage of addresses (maybe 0.5% -- one in 200 or 300 addresses) start with a 3. One very interesting address that moves a LOT of BTC around (and starts with a 3) is at Block Height 342350 (won by Slush). A LOT of BTC! There are only some 93 transactions at 342350, so if you want to see for yourself, just drop by and scroll down. That "3" address is the only one I saw there. Why is it that some addresses start with a 3? * * * I guess that a second question is in order. Is posting a public address (like the one starting with "3" at 342350) considered "Bad Form" here at bitcointalk? Hey, I don't want to cause any trouble around here... Title: Re: Some BTC addresses start with a "3" Post by: ranochigo on February 07, 2015, 05:20:26 AM ... Address starting with 3 is a multisignature address, a address requiring 2-of-3 signatures to be able to be spent. It is an address associated with more than one ECDSA private key. It is usually used as cold storage as it is harder for one to steal 2 private keys compared to 1. It can also be a protection against malware as you could keep the keys on separate computers. Keeping one of the three keys safety is also a good practice, if one of the keys is lost, the bitcoin can still be spent using 2 of the remaining keys. It can also be shared between multiple people, majority of the people can vote and spend the coin.When I have nothing better to do, I sometimes browse the blockchain via blockchain.info (http://blockchain.info). Really just to get a better feel for different kinds of transactions and to learn a bit more (some of you know I am a relative beginner who has pretty much had to "learn by doing" and not a programmer). (Some time ago, I asked bitcointalk about addresses that have a small letter (after the 1) vs. a CAPITAL letter, and I also asked about how a small percentage of addresses have ONE less alphanumeric in their addresses vs. the overwhelming majority of others. The answers I received explained BOTH points very well. Thanks!) Well, here is another little oddity I have seen recently. A small percentage of addresses (maybe 0.5% -- one in 200 or 300 addresses) start with a 3. One very interesting address that moves a LOT of BTC around (and starts with a 3) is at Block Height 342350 (won by Slush). A LOT of BTC! There are only some 93 transactions at 342350, so if you want to see for yourself, just drop by and scroll down. That "3" address is the only one I saw there. Why is it that some addresses start with a 3? * * * I guess that a second question is in order. Is posting a public address (like the one starting with "3" at 342350) considered "Bad Form" here at bitcointalk? Hey, I don't want to cause any trouble around here... Title: Re: Some BTC addresses start with a "3" Post by: pedrog on February 07, 2015, 05:21:00 AM Multi-signature addresses
Addresses can be created that require a combination of multiple private keys. Since these take advantage of newer features, they begin with the newer prefix of 3 instead of the older 1. These can be thought of as the equivalent of writing a check to two parties - "pay to the order of somebody AND somebody else" - where both parties must endorse the check in order to receive the funds. The actual requirement (number of private keys needed, their corresponding public keys, etc.) that must be satisfied to spend the funds is decided in advance by the person generating this type of address, and once an address is created, the requirement cannot be changed without generating a new address. https://en.bitcoin.it/wiki/Address#Multi-signature_addresses Title: Re: Some BTC addresses start with a "3" Post by: cheekychap on February 07, 2015, 05:23:53 AM Like others said its a multisig address .Other addresses start with 1.
I saw it the first time, I signed up for Bit-x. Thought they had it that ways somehow. Title: Re: Some BTC addresses start with a "3" Post by: OROBTC on February 07, 2015, 05:26:25 AM ...
ranochigo, pedrog, and cheekychap Thank you, one can learn something every day! :) * * * What about posting "interesting looking" addresses? Is that considered "Bad Form" (publicizing someone's public key just so I can get a question answered)? Title: Re: Some BTC addresses start with a "3" Post by: doof on February 08, 2015, 12:05:54 PM ... Every address is public knowledge. Associating it with an individual could be considered poor form.ranochigo, pedrog, and cheekychap Thank you, one can learn something every day! :) * * * What about posting "interesting looking" addresses? Is that considered "Bad Form" (publicizing someone's public key just so I can get a question answered)? Title: Re: Some BTC addresses start with a "3" Post by: tonygal on February 08, 2015, 12:15:06 PM Hmm, are you guys sure that there is such a strict distinction between the two?
I was aware that your usual one-man-address starts with 1 and your usual multisig address with 3. But to my knowledge a 3-address can also be a regular onesig address, although an unusual one. Title: Re: Some BTC addresses start with a "3" Post by: hhanh00 on February 08, 2015, 12:22:16 PM Hmm, are you guys sure that there is such a strict distinction between the two? 3-address are pay-to-script-hash addresses (P2SH in short). Most of the time they are used to do multisig but they are not limited to that. You probably saw one that does something different. Alternatively, you can also do multisig without a 3-address. It is rare but possible.I was aware that your usual one-man-address starts with 1 and your usual multisig address with 3. But to my knowledge a 3-address can also be a regular onesig address, although an unusual one. Title: Re: Some BTC addresses start with a "3" Post by: pitham1 on February 09, 2015, 02:43:21 PM Aah.....
I always wondered why the addresses in BitX started with 3. Now that makes sense. Title: Re: Some BTC addresses start with a "3" Post by: cryptworld on February 09, 2015, 02:46:06 PM they are multisignature adresses! now bitstamp uses that type of adresses
Title: Re: Some BTC addresses start with a "3" Post by: dsly on February 09, 2015, 02:47:16 PM they are multisignature adresses! now bitstamp uses that type of adresses Does that guarantee that they wont lose funds ever again ? Title: Re: Some BTC addresses start with a "3" Post by: redsn0w on February 09, 2015, 02:47:18 PM they are multisignature adresses! now bitstamp uses that type of adresses Also TheRockTrading, it uses greenAddress ( multiSign +2FA + instant confirm -if the other user uses also greenaddress as wallet). Title: Re: Some BTC addresses start with a "3" Post by: tonygal on February 09, 2015, 05:23:38 PM Hmm, are you guys sure that there is such a strict distinction between the two? 3-address are pay-to-script-hash addresses (P2SH in short). Most of the time they are used to do multisig but they are not limited to that. You probably saw one that does something different. Alternatively, you can also do multisig without a 3-address. It is rare but possible.I was aware that your usual one-man-address starts with 1 and your usual multisig address with 3. But to my knowledge a 3-address can also be a regular onesig address, although an unusual one. https://en.bitcoin.it/wiki/Pay_to_script_hash (https://en.bitcoin.it/wiki/Pay_to_script_hash) An explanation like they are multisignature adresses! is thus an oversimplification in my eyes.Title: Re: Some BTC addresses start with a "3" Post by: pooya87 on February 09, 2015, 05:50:18 PM it starts either with 1 or 3 and interesting enough the first example on https://en.bitcoin.it/wiki/Address is this one "3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy" which starts with 3 :D which is associated with the new features
Title: Re: Some BTC addresses start with a "3" Post by: OROBTC on February 09, 2015, 09:43:53 PM ...
pooya87 That bitcoin/wiki link explains a lot, thank you! Highly recommended for these BTC address questions. Title: Re: Some BTC addresses start with a "3" Post by: doggieTattoo on February 11, 2015, 04:56:04 AM they are multisignature adresses! now bitstamp uses that type of adresses Does that guarantee that they wont lose funds ever again ? As mentioned many times above an address starting with a 3 is a multisg address Title: Re: Some BTC addresses start with a "3" Post by: Bitcoinexp on February 11, 2015, 09:18:19 AM Well, you will find that the exchange in my signature does use multi-sig addresses and currently uses addresses that start with a "3". Case solved.
Title: Re: Some BTC addresses start with a "3" Post by: ranochigo on February 11, 2015, 10:43:08 AM they are multisignature adresses! now bitstamp uses that type of adresses Does that guarantee that they wont lose funds ever again ? As mentioned many times above an address starting with a 3 is a multisg address Title: Re: Some BTC addresses start with a "3" Post by: pereira4 on February 11, 2015, 01:38:21 PM Interesting. My friend was in Bit-x and told me about the 3 thing. It was really weird, I thought it was some sort of altcoin.
Title: Re: Some BTC addresses start with a "3" Post by: micheline on February 11, 2015, 02:09:00 PM I've learned something new today.
Thanks to the thread starter for asking this question. Address starting with 3 is a multisignature address, a address requiring 2-of-3 signatures to be able to be spent. It is an address associated with more than one ECDSA private key. It is usually used as cold storage as it is harder for one to steal 2 private keys compared to 1. It can also be a protection against malware as you could keep the keys on separate computers. Keeping one of the three keys safety is also a good practice, if one of the keys is lost, the bitcoin can still be spent using 2 of the remaining keys. It can also be shared between multiple people, majority of the people can vote and spend the coin. That is really useful. I've already asked myself if it would be possible to "split" the key for security reasons and have some kind of fallback in case I loose one part. Great to see that a solution exists already. Title: Re: Some BTC addresses start with a "3" Post by: SirChiko on February 11, 2015, 02:55:29 PM they are multisignature adresses! now bitstamp uses that type of adresses Does that guarantee that they wont lose funds ever again ? Title: Re: Some BTC addresses start with a "3" Post by: BillyBobZorton on February 11, 2015, 03:01:16 PM For some reason, I dislike all addresses that do not being with an 1. It's just not as aesthetically pleasing to the eye.
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