Bitcoin Vanity Address Generators

Bitcoin vanity address generators are not entirely safe.A Bitcoin vanity address generator will help you generate a custom Bitcoin address. A vanity address is like a vanity license plate for cryptocurrency. Examples of vanity addresses:

1HashrateFVj8ALj6mfBsbifRoD4miY36v

1BankAcctFVj8ALj6mfBsbifRoD4miY36v

Of course these are not real addresses but an example of vanity addresses. Are they a necessary thing? No, but they are fun. Are they safe? Absolutely not safe unless using split key generation. I do not recommend generating your own Bitcoin vanity addresses unless you have well researched doing so and understand the risks. There are quite a few examples of Bitcoin stolen from vanity addresses. If you must generate a Bitcoin vanity address the best way to do so is to through the VanityGen application itself. Using the application run on your own computer ensures you are the only one with access to the private keys.

A lot of web based vanity address generators exist. These generators will often do short vanity addresses for free but require payment for the longer ones. Since generating a 5-character or longer vanity address requires a lot of computing power these sites often charge per character for keywords of a certain length.

BitcoinVanityGen.com – Up to six letters for free. Payment in Bitcoin for longer addresses. Safety unknown to author.

VanityGen Wiki – Read more here on Bitcoin vanity addresses.

BitcoinTalk.org Thread on VanityGen Application

 

Bitcoin Lightning Network

Lightning Network is a protocol on top of the Bitcoin blockchain.
The Lightning Network may solve the Bitcoin scalability problem.

Bitcoin scalability is a contentious and important issue at the moment. The issue of scalability and increasing transaction fees came to a head recently with the Bitcoin Cash fork. Proponents of Bitcoin Cash (an altcoin) wanted larger blocks. When segwit2x failed they hard-forked off from Bitcoin to create Bitcoin Cash. The issue is increasing fees for space inside a Bitcoin block. At the time of writing it can cost as much as $5 to ensure space in the next Bitcoin block!

Since Bitcoin is increasing in usage and popularity and Bitcoin blocks can currently hold just one megabyte of transaction data the blocks are filling to capacity. While this is good since it means Bitcoin is growing it also means the Bitcoin bottleneck problem is real. Each Bitcoin transaction bids to get data inside a block through the transaction fee. If your fee is too low your transaction may not get into a block and ultimately may get orphaned (lost forever).

There are two potential solutions to this problem. The first is to increase the data each block can hold from one megabyte to a larger amount, this is the solution Bitcoin Cash and others such as Bitcoin XT have tried to implement. The second is to layer another protocol on top of the Bitcoin block chain and this is the approach of the Lightning Network.

Read moreBitcoin Lightning Network