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Everyone familiar with Bitcoin knows that wallets come with two address types: public and private. The public address serves for receiving funds and can be shared, while the private one acts as your personal key to access and manage your cryptocurrency. Let's explore deeper into Bitcoin address technology and examine XPUB, YPUB, and ZPUB.
UNDERSTANDING XPUB
An extended public key called XPUB is a component of BIP32. It functions as a view-only tool, allowing users to see account details without making any modifications or managing funds.
Unlike standard public keys, XPUB enables viewing the complete history of all addresses created within a wallet, not just a single address. This capability exists because BIP32, part of HD wallet technology, generates new addresses systematically rather than randomly, linking them to a parent address. Thus, XPUB can track all transactions across every generated address in a user's wallet. For more details about HD wallets, refer to our other articles.
Note: Share your XPUB only with trusted parties, as it reveals your complete transaction history, compromising your privacy.
UNDERSTANDING YPUB
YPUB represents another type of extended key, falling under the BIP49 standard rather than BIP32. This standard was specifically created to accommodate SegWit updates and compatible wallets.
UNDERSTANDING ZPUB
ZPUB functions similarly to YPUB, working with SegWit wallets under BIP49. The 'Z' designation indicates the wallet operates without backward address compatibility. This technology remains relatively uncommon and sees limited use today.
KEEPING YOUR KEYS SECURE
Although XPUB, YPUB, and ZPUB are public keys, exercise caution when sharing them. While they can't be used to steal funds or perform transactions, they provide complete visibility of your transaction history, which could have unwanted consequences.
For regular transactions, stick to using standard public keys generated for each transfer. This practice maintains your transaction privacy while still enabling necessary information sharing with other users during cryptocurrency transfers.
