Blockchain Academy
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Address

Address in Bitcoin works as an account number. Address is created by public keys, and generated by SHA(Secure Hash Algorithm), and RACE Integrity Primitives Evaluation Message Digest(RIPEMD).

By computing the public key(K), SHA256 hash is obtained, then converted into RIPEMD160 hash value.

Through this calculation, a 160-bit hash A is obtained, and this value is provided to users by Base58Check encoding. The value which is generated from this process starting with one becomes a bitcoin address. There are two methods of addressing that can be obtained from the private key during the public key generation process; the compression method and the non-compression method. Therefore the address can be generated with two types and both correspond to one private key.