What is the format used by NEAR for wallet addresses?

3 answers

• Nov 22, 2021 · 3 years ago
  NEAR uses a format called Base58 for its wallet addresses. This format is similar to Base64 but excludes some characters that can be easily confused, such as 0 (zero), O (capital o), I (capital i), and l (lowercase L). The resulting addresses are shorter and easier to read and transcribe. This format is commonly used in many cryptocurrencies to ensure compatibility and prevent errors in address handling.
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• Nov 22, 2021 · 3 years ago
  The format used by NEAR for wallet addresses is based on the Ed25519 elliptic curve digital signature algorithm. This algorithm generates a public key, which is then hashed using the SHA-256 algorithm to produce a 32-byte hash. The resulting hash is then encoded using the Base58 format to create the wallet address. This process ensures the security and uniqueness of NEAR wallet addresses.
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• Nov 22, 2021 · 3 years ago
  NEAR wallet addresses follow the same format as many other cryptocurrencies, using a combination of letters and numbers. The addresses start with the prefix 'NEAR' followed by a series of characters. These characters are generated based on the user's public key and are unique to each wallet. This format allows NEAR to easily identify and verify wallet addresses while maintaining compatibility with other cryptocurrencies.
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