Evolution of Bitcoin Addresses from Security Perspectives

Abstract

Since Satoshi Nakamoto launched bitcoin in 2009, there have been many improvements in bitcoin addresses that are required to fulfill newer requirements. These improvements have made the learning curve steeper for a regular user. Many readers do not know the real motivation why certain features are implemented or otherwise. In this paper, the evolution of bitcoin addresses is clearly described so that users can better understand the progress made in bitcoin. This paper also explains the motivation for some features' motivation and why these features were implemented in a certain way.