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Author Topic: Other BTC address properties  (Read 1444 times)
lowcarbjc
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September 11, 2016, 02:21:23 AM
 #1

I was wondering if there are other properties that are currently (or in the near future) available as part of a normal Bitcoin address, apart from the obvious numeric value of bitcoins in it.  Can one for instance store a high score of a game (where the game name is the bitcoin address) or a Poll/vote value or a string value like the name of a Deed owner (where the Deed code is a property of the bitcoin address) or any other values (that has nothing to do with the numeric coins value in it) inside a Bitcoin address that will automatically be updated via the blockchain without the need for some centralized database?  In other words, very simplified, if you want to find out the deed name of address 1xxxxxxxxxxxx you would say 1xxxxxxxxxxx.deedowner.name or 1xxxxxxxxxxx.value(2) when looking up in the blockchain.
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September 11, 2016, 02:43:07 AM
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No, not possible. An address isn't even an actual object in the blockchain. It is just a visual representation of the RIPEMD160 of the SHA256 of a public key. There is no other information in an address.

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September 11, 2016, 09:56:39 AM
 #3

There are no "properties" of bitcoin addresses stored in the blockchain.  As a matter of fact, there are no bitcoin addresses in the blockchain at all.

Bitcoin addresses are something that wallet software uses to make it easier for us humans to exchange information.  They represent a script that the wallet uses when building a transaction.  It is that script that is stored in the blockchain in transaction outputs.

So, rather than saying:
Quote
Please create a transaction output with a value of 0.5 which is encumbered with a script that requires an ECDSA signature of the spending transaction be presented which has been calculated from the private key that is associated with the compressed public key that hashes to a hexadecimal value of E83C3081AAF0DDC70B187D92DAF00AB96C154B12 when hashed first with SHA256 and then with RIPEMD160.

You can simply say:
Quote
Please send 0.5 BTC to 1NAwsYVU1r6vcUvxrCxPMvQJH9QCsBHC4c

Both of those quotes mean the same thing.  The wallet software is designed to understand how to convert from the "address" to the proper script.

Now, what you can do is store additional information in the transactions that you create.  It is possible to create a transaction that has 2 outputs.  One output can receive the bitcoins that were used to fund the transaction with an address related bitcoin script, and the other output can receive 0 bitcoins and store up to 80 bytes of information.

By using this data storing mechanism, it would be possible to send a very small amount of bitcoins to an address and store some data in the blockchain.  There is no standard method for doing this, or for interpreting the information stored.  Bitcoin just sees an arbitrary 80 bytes in a transaction output and doesn't know anything about what that data is meant to represent.  You would have to create your own proprietary software that would make its own decisions about how to encode information into those 80 bytes.

lowcarbjc
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September 12, 2016, 12:40:36 AM
 #4

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One output can receive the bitcoins that were used to fund the transaction with an address related bitcoin script, and the other output can receive 0 bitcoins and store up to 80 bytes of information.

Yes thanks for all the answers, that is what I have been looking for. I saw on some You Tube videos that they say (and I think they mean in future) something in the lines of "the blockchain is so much bigger than just doing currency transactions on and that it can be used to store deed information, or any other information. If one think bitcoin is simply moving money around then you have a limited view of it". I assume they are probably referring to this 80 bytes of information property, unless they are talking about another altcoin or blockchain integration that does or will be doing this?
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September 12, 2016, 02:27:24 PM
 #5

OP_RETURN is what you are looking for.
For example, it's implemented at www.eternitywall.it

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JhonTravis
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September 12, 2016, 02:37:30 PM
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OP_RETURN is what you are looking for.
For example, it's implemented at www.eternitywall.it
nice site ,never heard before

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September 12, 2016, 02:40:49 PM
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http://www.cryptograffiti.info/, another example.

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morantis
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September 12, 2016, 02:42:38 PM
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OP_RETURN is what you are looking for.
For example, it's implemented at www.eternitywall.it

simplified, data can be attached to a TX(transaction) not an address itself.  that data can be nearly anything and if used right, with a well formed smart contract, it can be the future of bitcoin, and the economy.  

Think about this, you order a pizza online using Bitcoin, your address, the order and all that info is embedded in the transaction itself.  using the data as meta data or json values, the computer at the pizza place can easily parse the data and without a single person touching it, send the order to the kitchen computer, the address to the delivery guys GPS in his smart phone and even send a portion of the amount paid directly to the delivery guys Bitcoin address as a tip.  there is not room for a huge amount of data, but there is plenty of room for a link to a json on a server
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