P2SH vs P2PK Ethereum: comparative analysis
Ethereum Network, developed by Vitalik Buterin, has been a pioneer in blockchain technology since its inception in 2014. One of the key features of Ethereum is the use of cryptographic primitives based on public key key, including a private key (public key) and a public key hash (P2PKH) . In this article, we delve into the relationship between P2SH (Pay-Perd-Send) and P2PK in Ethereum and we will examine why P2PKH does not necessarily replace P2PK.
What is P2SH and P2PK?
Both P2SH and P2PK are public cryptographic primitives used to secure transactions in the Ethereum network. Here is a short overview:
* P2PK : This is one of the two main types of key pairs used in Ethereum, along with P2SH. In P2PK, the private key (public key) and the appropriate public key shortcut are stored on the client’s side, enabling users to send and receive funds without disclosing their personal identity.
* P2SH : This is a P2PK variant that uses a separate layer of “script” to validate the transaction. P2SH allows for many transactions for individual input data (i.e. Pay-Per-Send), which makes it more suitable for micropayments and other use cases, in which the sender does not know what he receives in return.
Why does P2PKH exist?
You are wondering why Ethereum has developed a separate type of key pair, even if there is P2SH. There are several reasons:
- Scalability
: While P2SH can handle many transactions to a single entrance, requires additional network costs to support this function.
- Safety : By maintaining two different key pairs (P2PK and P2SH), Ethereum developers intended to improve general safety by reducing the risk of compromise.
Will P2PKH replace P2PK?
In most cases, P2PKH does not replace P2PK directly in any circumstances. Although both types have similar functionality, they serve different purposes:
- P2PK : This is the main cryptographic primitive based on a public club used to send and receive funds to Ethereum.
- P2SH : This variant uses the script layer to validate the transaction, making it more suitable for specific use, such as micropayments.
Why P2PKH can be useful?
Although P2PKH does not replace P2PK directly, it may potentially have some benefits:
* Improved safety : Having separate key couples, Ethereum programmers intended to reduce the risk of compromise in some scenarios.
* Scalability : Additional general costs required for P2SH may be permissible if other cases of use on the web may compensate for this.
Application
Although P2PKH exists and serves the purpose, it does not replace P2PK directly in any circumstances. Instead, it is an alternative approach to protecting transactions in the Ethereum network, mainly aimed at improving scalability and security.
As the Ethereum ecosystem evolutions, it is likely that developers will examine new cryptographic primitives and innovations to increase the functionality of the network.