Base58
Base58 is an encoding scheme with an alphabet of 58 characters, including upper and lowercase letters A-Z and the digits 1-9.
Base58 is an encoding scheme with an alphabet of 58 characters, including upper and lowercase letters A-Z and the digits 1-9. Base58 excludes zero, uppercase ‘O’, uppercase ‘I’, and lowercase ‘l’, in order to avoid reader confusion. A variant of Base58 called Base58Check is used to represent legacy Bitcoin addresses and private keys in WIF format.
Base58Check is identical to Base58, with the addition of a 4-byte checksum and a version prefix. The version prefix indicates what data is represented. Pay-to-Public-Key-Hash (P2PKH) addresses have the prefix ‘1’, while P2SH addresses have a prefix of ‘3’ and private keys in WIF format carry a ‘5’ prefix.
Base58 is a cryptographic or data encoding concept that underpins Bitcoin's security and data integrity. Onramp's Bitcoin glossary explains Base58 and other cryptographic foundations to help investors understand the technology securing their digital assets.
Frequently Asked Questions
What is Base58?
Base58 is a cryptographic or encoding standard used in computer science and digital security. In Bitcoin, it plays a role in securing transactions, keys, or data structures.
Why is Base58 important for Bitcoin?
Base58 contributes to Bitcoin's security model by ensuring data integrity and authenticity. Cryptographic foundations like Base58 make Bitcoin's $1+ trillion network resistant to fraud and tampering.
Does Onramp leverage Base58 for security?
Onramp's infrastructure relies on proven cryptographic standards including concepts related to Base58. Onramp's multi-institution custody ensures that client Bitcoin is protected by multiple layers of cryptographic security.
