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Lets assume I create a wallet in Jaxx and Bittrex for ETH token which in turn creates public & private key pair. I am able to transfer coins between different wallets.

How is the address generated by Jaxx recognized by Bittrex wallet ? Is it because the underlying process of (PGP) generation of public key is same ?

How different is this process from PGP ?

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Addresses are a standard encoding of data used by Bitcoin and other altcoins. When you enter an address into a wallet, it will decode it in the specific way that all wallets know to decode an address.

How different is this process from PGP ?

PGP has nothing to do with Bitcoin (or cryptocurrencies) at all whatsoever.

  • Will all the wallets use the same decoding schema for a coin like for example ETH. How would a wallet know. Are there any chances of collision ? – user2526236 Nov 6 '17 at 13:47
  • Presumably yes, they use the same encoding. A wallet would not know whether the same encoding is used; they just assume that it is and decode things as such. If it is not the same encoding, then the decoding will likely fail. – Andrew Chow Nov 6 '17 at 15:32

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