As a seasoned researcher with years of experience navigating the complex world of blockchain technology, I find this proposed address format standardization by Bifrost a prudent step towards enhancing user experience and reducing confusion within the Polkadot ecosystem. The current multiplicity of address formats across parachains can indeed be perplexing for newcomers and even seasoned users alike.
To improve user ease and minimize confusion, the Bifrost community is suggesting a plan to match its address structure with that of Polkadot‘s.
Why Address Standardization?
On his Twitter account, Lurpis Wang (co-founder of Bifrost) suggested a plan to streamline user, partner, and exchange interactions by creating a uniform address structure for both networks. This is aimed at making the process simpler.
As an analyst within this ecosystem, I’ve noticed a common issue: each parachain in Polkadot employs distinct address formats, which can be puzzling for newcomers. To alleviate this confusion and enhance user experience, Bifrost has suggested implementing the Polkadot address format. This move aims to simplify matters by leveraging a format that is already widely recognized within our community.
Polkadot’s Address Format as the Preferred Standard
Bifrost recommends using the Polkadot default address prefix ‘0’, which is widely recognized and has the most agreement within the Polkadot community. This format is frequently employed in transactions involving key Polkadot assets and parallel chains, making it a logical choice for standardization. Moreover, developers find it more convenient to work with the ‘0’ Polkadot address prefix compared to the generic Substrate prefix ’42’, adding weight to this push towards unification.
No Changes to Chain or Services
According to the Bifrost team’s announcement, the planned change in the address format won’t affect the fundamental Bifrost chain or its provided services. The alteration will be limited to the appearance of addresses within the platform’s user interface (UI) and external services. This update is set to significantly influence only the Bifrost DApp and the Polkadot.js interface, both of which are expected to implement a unified address format.
Coordination with External Services
The proposal also highlights the need for external services, including wallets, exchanges, and blockchain explorers, to update their systems in line with the new address format. Key platforms such as Subscan, Subsquare, Nova Wallet, Talisman, Subwallet, and various centralized exchanges like Kraken, Kucoin, and Gate, are expected to implement these changes. The execution date for the address format update is scheduled for September 18, 2024, at 10:00 UTC.
Cautious Approach to Chain-Specific Updates
As a researcher involved in this project, I’m excited about the upcoming address display update across all user-facing platforms. However, when it comes to chain-specific information and chainspec updates, Bifrost has signaled a cautious approach due to the ongoing lack of comprehensive consensus within our ecosystem. Therefore, we plan to postpone any modifications related to on-chain data until we reach a broader agreement on these matters.
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2024-09-12 15:04