By adopting the cashaddr format, which differs from the original Bitcoin network addresses, Trezor follows in the footsteps of the Coinbase and Bitpay exchanges, which also implemented cashaddr. The news was spread by the Trezor wallet marketing manager on Twitter, posting a link to a message from cashaddr lead developer Johan Heunicke.
A post on the company's GitHub site states: "Note that only the last step needs to be changed from the hashed public key to the address. The e-wallet verifies that the Trezor address is returned. Old addresses can be used. It is possible to send the old address to the new one and vice versa. Any former address format is converted to one and only one CashAddr format, and the same is true in reverse. Thus, there will always be two versions of any given address, and they are interchangeable because they correspond to the same set of private and public keys. The only difference is the confirmation message provided to the user; the transaction format has not changed at all."
The launch date for the changes has not yet been determined, but this will definitely be one of the biggest achievements on the part of Bitcoin Cash.
Although Bitcoin Cash originated from Bitcoin, its main competitor in the market is Litecoin, which is currently going through difficult times, having canceled the LitePay service. By supporting cashaddr, Bitcoin Cash will definitely make its position stronger in the market.
Pavol Rusnak from Satoshi Labs commented on the adoption of cashaddr by the Bitcoin Cash network: “I suggest changing the address version to something else so that it is obvious that it is a Bitcoin Cash address. (For example, it can start with the letter C). Don’t forget to change the P2SH address version too!”
To this, Bitcoin Cash developer Amaury Sechet replied: "I agree. I have a plan to change the address format. Such a change is expensive, so I would like to explore all options before making a decision. I will also need to convince others that this is a good address format."
According to https://www.financemagnates.com
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