Cashaddr is now supported on Bitpay, Coinbase, and Trezor. It is a format for addresses to make Bitcoin Cash addresses distinct from addresses of other cryptocurrencies.
Trezor will add on support for Casaddr, a BTC address format that is meant to differentiate between Bitcoin Cash and Bitcoin Core addresses. It will be good news for security for those wishing to further safeguard their investments. It is also good news for Bitcoin Cash as this move may increase popularity. This is especially considering that Trezzor is one of the most popular hardware wallets.
Bach N. of Trezor made the announcement through a Twitter post echoing a tweet by Jochen Hoenicke, lead developer of cashaddr. He was also responding to tweet from a tweet from Bitcoin Cash advocate James Elliot.
No ETA, but the cashaddr support is being developed: https://t.co/MPhpJWw47R
— b a c h. (@_xbach) April 1, 2018
As a result, Cashdarr is now on Bitpay, Coinbase, and Trezor. Bitcoin Cash users will have to use the beta wallet before starting to use true cold storage.
Emerged in January this year
The protocol emerged in January 2018 when the Bitcoin Cash community and developers wanted to make their addresses distinct from those of Bitcoin and other cryptocurrencies. This has an effect of reducing any room for error. Some users had previously reported losing money to Bitcoin addresses by sending Bitcoin Cash to Bitcoin address.
Pavol Rusnack of Satoshi Labs is associated with the development. He proposed a change to address to make obvious that the address is a Bitcoin address. Bitcoin Cash developer Amaury Séchet said that changing address format was expensive and
Cashaddr dev Hoenicke said that the change will not affect the means of transaction. It solves the misleading address keys and other issues once and for all.
He said on Github that the change of the format needed doing outside the firmware for Cashaddr support. The Webwallet confirms that the address returned by Trezzor is as expected. It supports older firmware as well as both use SPENDADDRESS.
Cashaddr could be a little bit more expensive to develop and this move by Trezor paves way for further innovations.