Blockchain tutorial 17: Generate Bitcoin address Video Lecture | Blockchain Tutorial: A Fundamental Guide - Cryptocurrency

in this video I will demonstrate how to
jet
one address starting from
number I
all the steps which are needed
Andres open the browser and go to
www.mobileaustinnotary.com see tools
scroll down the page until you find the
tool cryptocurrency address generator
and validator this one click on the link
the cryptocurrency address generator and
validate the page is now displayed on
the right hand side you will see the
check box show more details by enabling
or disabling this check box you can show
or hide detailed information
is now enabled and now it is disabled
each time
generate button a new Bitcoin address is
generated new Bitcoin to suggest
generated again again again again if the
checkbox is disabled it hides all
intermediate steps it only shows you the
randomly generated number the private
key hex Sparky with uncompressed private
key with compressed private key
uncompressed and a public key compressed
it does not show you how the private key
with all compressed is calculated or the
private key this compressed if the
checkbox is enabled it will now show you
all the intermediate steps these steps
in this demo I will be focusing on
creating a Bitcoin address and not other
cryptocurrency such as litecoin and they
will show more details because I want to
see all intermediate steps
the clear button to clear all previous
entered and calculated values now we are
set up to generate a Bitcoin address
this tool offers three methods to
generate a random number if you use
method 1 you can automatically generate
a cryptographically secure random number
by pressing the generate button
or you can press the escape button
use method tools you can create a random
number by rolling a 16 sided dice 64
times I will make a separate video to
demonstrate this method if you use
method 3 you can create a random number
by entering a strong password or
passphrase let's try this method first
enter for example this password this
password will be hashed twice using the
sha-256 algorithm each time if you use
the sha-256 algorithm it creates a 32
bytes hash value and that is exactly the
number of bytes we want for our random
number the faribault private key hex is
the randomly generated number which is
also the private key
this online application uses the sha-256
algorithm twice other online
applications may use other hash
algorithms or can apply the sha-256
algorithm one time or more times if you
use this method always use a strong
password or passphrase Bitcoin addresses
has been hectic because people were
using simple passwords it is therefore
not recommended to use this method the
price of key is also concerted in the
base 58 base 64 decimal and binary
format this is only done for educational
development or testing purpose these
values are not being used in this tool
now we know how method 3 works now let's
try method 1 the majority of people will
be using method 1
Methos one uses the browser web crypto
API if your browser does not support the
web crypto API it uses the Stanford
JavaScript crypto library press the
Clear button press the generate button
to generate a cryptographically secure
random number each time you press the
generate button a new random number is
generated here's the randomly generated
number keep pressing the generate button
and as you can see over here the random
numbers are generated each block
represents a void and the byte is
represented by two hexadecimal failures
in this example this block has the
hexadecimal value FB if you concatenate
the random numbers in same as the
private key
as can be seen over here so f d FB CC CC
etc
of the blockchain tutorial series I have
used this drawing to explain what
bitcoin compress and uncompress
addresses are
to address generator and Fela data to
however uses a different naming
convention
I have placed both draw in side by side
so you can easily see the difference the
major difference lies in the uses of the
word key instead of address please be
aware of this as you can see the word
address
is used but in online tool the word key
is used instead
I will now disable the show more details
checkbox
each time the generate button is pressed
a new random number is generated here
and here but also the private key with
uncompressed private key with compressed
public key uncompressed and the public
key compressed let's demonstrate yes
video about technical addresses and
paper wallets this video only focuses on
how the private key with uncompressed
private key with compressed public key
on compressed and public key compressed
are generated I will now show you all
the steps which is needed to generate
the private key with uncompressed from
private key hex to private key with
uncompressed first I press the Clear
button for educational purpose I am
copying the following private key in the
private key hex field which have been
using in the previous videos I
we'll show more details to show you all
the steps here is our private key hex
value this is our randomly generated
number
private key with uncompressed value
these are all the steps which are needed
to create the private key wallet input
format uncompressed value each
cryptocurrency private key has their own
prefix version number Bitcoin has hex
value 80 light cone has hex value b0
prepared this version number in front of
the private key hex value as you can see
over here the hex value 80 is prepended
this 80 and then seven nine @e and seven
9f e is the private key hex value this
value is assigned to the variable
private key version next the price of
confusion is hashed with the sha-256
hash algorithm this is the hashed value
and assigned to the variable has a 1
the has a one value is again test with
the sha-256 algorithm and the value is
assigned to the variable has a two next
get the first four bytes of the has a -
value that's in total 8 characters 2 4 7
B 0 1 BC that's the hash value the hash
value is assigned to the variable
checksum a checksum a is appended at the
end of the price of the first variable
last step is to base 58 and code the
private key checksum value and the
result is this private key what input
format uncompressed value and as you can
see this address starts with the
character 5 which we expect
show you all the steps which is needed
to generate the private key with
compressed starting from prior to key
hex to private key with compressed
now I'll show you all the steps which
are needed to create a private key
wallet input format compressed value
that's this value and here are all the
steps which are needed first we start
again with the private key hex value we
prevent it with the hex value 80 that's
the prefix version number and at the end
we append the hex value 0 1 the hex
value 0 1 is a compression thread which
indicate that the private key is
compressed as you can see over here this
is the private key 80 is the prefix
version number and this is the
compression flag 0 1 this value is
assigned to the variable private key
version comp next we have this private
key first comp with the sha-256
algorithm this is the hashed value and
aside to the hash p1 parable
again there has to be one value is test
again with the sha-256 algorithm this is
the value and assigned to the hash be to
Faribault next is to get the first four
bytes of the hash be to value that's in
total 8 characters 7 1 6 FP a 1 a this
checksum value is assigned to the
checksum be thorough
next we append the checksum B value at
the end of the private key version come
tell you so we take this value at a pad
TS checksum value at the end the last
step is to basically eight encode the
private key section compel you the
result is the private key with
compressed value as you can see over
here
price of key with compress value begins
with a character l okay in this example
it starts with the letter L I will not
show you all the steps which is needed
to generate the public key uncompressed
starting from public key hex to public
key uncompressed
in this section is X
the public key is a calculated
here's the public key x-value here's the
public key y-value the public key value
consists of the x-value concatenated
with the y-value as you can see over
here
so how is the public key on compressed
schedule calculator meaning how is this
value calculated we start with the
public key that is this key and P
pendant is the hex value 0 4 so here is
0 4 and then following is the public key
the same as this one
this value is assigned to the variable
public key version next is to have the
public key version with the sha-256
algorithm if this value and this value
is assigned to the variable has c1 next
the value hash c1 is hashed again but
now with the hash algorithm with md 160
this has algorithm generates a 160-bit
hash value this value is assigned to the
variable head c2 the fellow here C 2 is
prepended with the prefix value 0 0 each
cryptocurrency public key has their own
prefix version number did God has hex
value 0 0 light cone has hex value 3 0
this value is assigned to the variable
public key version has see the public
key first has C value is hessed
with the sha-256 algorithm this value is
then assigned to the variable has C 3
the value has C 3 is hence together with
the sha-256 algorithm and this value is
assigned to the head C for variable then
we take the first 4 bytes which is 8
characters there will be a three one
zero seven six is a checksum and this
value is assigned to the variable
checksum see the checksum C value is
appended at the end of the public key
version here see this value and this
value
I said it at the end the last step is to
base 58 and code the public key checksum
value and the result is this failure if
you press the few button this address is
checked in the blockchain info website I
will not show you all the steps which is
needed to generate the public key
compressed starting from private key hex
till of the key compressed
now I will
to calculate the public-key compressed
meaning how to calculate this value
first we need to check if the y-value is
odd or even if the y-value is even we
have to use the prefix value zero two if
the Y value is odd the prefix value zero
three is used in this example the Y
value is odd so we need to obtain P fix
value of zero three to the x value this
is the H value and this is value of zero
three this value is assigned to the
federal public key version come next we
need to hash the public key version comp
value with the sha-256 algorithm this is
the hash value this hash value is
assigned to the variable has the one
the hefty one tell you is hashed again
with the with Md 160 hash algorithm this
value is now assigned to the hefty two
parable
the prefix version number 0 0 is
prepended to the hash d2 value this can
be seen over here 0 0 is appended to
this value each cryptocurrency public
key has their own prefix version number
bit code has the hex value 0 0 light
code has the hex value 3 0 this value is
assigned to the variable public key
version has D the public key version has
deep value is hashed with the sha-256
hash algorithm this hash value is
assigned to the variable has d3 the has
d3 value is has to get with the sha-256
algorithm this hash value is assigned to
the terrible hefty for again we take the
first 4 bytes of hash d4 meaning the
first 8 characters of the hezbi for
value that's e8 for FB for a this
checksum value is assigned to the
variable checksum d the checksum D value
is appended to the public key version
has the value that's this value and then
attended is this checksum value at the
end this value is assigned to the public
key checksum t verbal the last step is
to base 58 and code with public key
checks and D value the result is this
public key compressed value if you press
the few button this address is checked
in the blockchain info website
new Bitcoin client uses the private key
with compressed format and the public
key compressed format if it takes a
private key with compressed value and
copy it you press the Clear button all
entered and calculated values are
deleted if we paste the failure back in
the private key with compressed field
the price the key is restored and if the
private key is restored it can calculate
the public keys if you export the
private key with uncompressed or the
private key with compressed you can
always restore its corresponding public
keys but the other way is not possible
you