For NXT, why are there 2 different ways of identifying your NXT account? There is a Account ID and Account Numeric ID.
What was the differences and why was it done like this?
What are advantages/disadvantages from using one or the other?
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Starting in software version 1.1.3, the numeric account format has been changed to Reed-Solomon format by default (the account address starting with NXT- ) which provides higher security against typing mistakes. You still can use both address formats, but the new format is recommended.
They represent both the same "information". The NXT-... is the same as the ID but expressed in Reed Solomon format which among other things has these benefits:
- It can handle up to 2 typos, not that you should purposefully type it wrong, but if you write one or two wrong digits, your funds will still go to the designated account. It is not infallible but it gives an additional layer of "confidence".
- It is easier to read. A long string of numbers is not the easiest thing to read/digit, you leave a digit behind or type one wrong and your transaction goes to somebody else.