SS58-Address

A compact representation of public keys used as wallet addresses for secure TAO transfers in the Bittensor network.

An SS58-address is a specific format used to represent public keys in the Bittensor network. This address corresponds to both the coldkey and hotkey of a wallet. It allows users to send and receive TAO securely. The SS58 encoding makes these addresses compact and easy to share, ensuring that transactions are efficient and straightforward.

How SS58-Addresses Work

When you create a wallet in Bittensor, you receive an SS58-address derived from your public keys. This address serves as your public wallet identifier, enabling others to send TAO to you. For example, when someone wants to transfer TAO to your wallet, they will need your SS58-address. To ensure security, it’s important to keep your coldkey safe and only share your SS58-address when receiving funds.

Creating an SS58-Address

You can create an SS58 address by setting up a Bittensor wallet using either the Chrome Extension or command-line interface (CLI). When you create a wallet, it generates a unique 48-character hexadecimal string that starts with the number '5'. Along with this string, you will also receive a 12-word mnemonic phrase that acts as a backup for your wallet.

STORE YOUR MNEMONIC SAFELY

Write down your mnemonic/seed phrase and store it in a safe place, preferably offline. Anyone with access to this list of 12 words could gain full control of your wallet and manage your tokens.

Using Your SS58-Address

To receive TAO from another user, simply provide them with your SS58-address. When using commands in the CLI, you will specify this address to send or receive funds. For example, when executing a transfer command, you will need to include the recipient's SS58-address along with the amount of TAO you wish to send.