is there any chances of getting your Bitcoin or ETH wallet compromised when newbies generates new address? It is possible that a bitcoin wallet can generate a wallet that's been in use by another user?
I think what you are referring to is something called "
bitcoin address collision"
I don't much about the technicalities but from what I have understood, you have produced a new bitcoin address that is equal from an existing funded bitcoin address that is hashed from an existing public key. And, based on what I've read, it's theoretically possible, but the chances of getting the same address are extremely slim to the point that it requires extremely powerful computing machine to create it...
I know it may not be accurate but I think that's the gist behind bitcoin address collision.
Since Bitcoin addresses are basically random numbers, it is possible, although extremely unlikely, for two people to independently generate the same address. This is called a collision. If this happens, then both the original owner of the address and the colliding owner could spend money sent to that address. It would not be possible for the colliding person to spend the original owner's entire wallet (or vice versa).
But because the space of possible addresses is so astronomically large it is more likely that the Earth is destroyed in the next 5 seconds, than that a collision occur in the next millenium.
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