Vanity addresses are personalized Bitcoin addresses.
Since Bitcoin addresses are very cryptic, personalized addresses can be helpful to identify the recipient(s).
The personalized addresses are just as secure as regular addresses. In terms of privacy, they also behave like regular addresses. Because each*r can create a vanity address with 1Love... and transactions could be transmitted with Tor for privacy protection or a transaction mixer could be used so that the transaction cannot be tracked!
On the other hand, vanity addresses can create more security to identify the recipient exactly, because the longer the defined string is, the more expensive it is for the attacker to find a vanity address that is longer than the owner.
Example: The address 1Bitcoin21... contains 9 defined characters. It takes several years to find them with a normal computer. The address generator will need only a few days to find them, because of the dedicated hardware and the intelligent software.
As usually two or three more characters are remembered, which follow the prefix by chance, i.e. 1Bitcoin21tv5..., the attacker has to calculate these characters too. However, the difficulty and duration of the calculation increases by a factor of 58 with each additional character. In his lifetime the attacker will not be able to find an address with 11 or 12 characters, it would cost him millions in hardware and electricity!
With the help of vanity addresses it is even possible to write messages into the blockchain, where several vanity addresses in a row receive amounts from one address, this can be seen in the Blockchain Explorer!
The price of the addresses is caused by the cost of the expensive hardware, which needs electricity and the previous investments in the sophisticated backend of the Vanity Address Generator.
Compared to other service providers the most efficient software and hardware is used with guaranteed 100% renewable energy. The Vanity Address Service of B-Uni is many times cheaper and more secure than the service of others.
Furthermore, further developments will be financed, such as an open source software project for a diy hardware wallet, which will support vanity addresses and key merging!
Further cryptocurrencies are to be added to the address generator, which these will be, the community will then decide!
Last but not least, the income will be donated to a good cause. It is to be donated automatically from the payments, to charitable organizations, which will be publicly visible for the customers* inside, thanks to the Blockchain!
This is planned for 2021/22!
Through the split-key procedure, customers remain in possession of their private keys. The Spit key procedure guarantees that Vanity addresses are as secure as any other address.
To securely merge the partial keys, use the key merging tool in a private tab in incognito mode and switch your computer or smartphone offline, then you can safely merge the keys!
In the incognito mode of the Brave Browser no data can be stored in the background. No one can steal your private key offline!
Before you go back online with your device, make sure that the final private key of the vanity address is imported in a wallet or stored as cold storage. Also make sure that this private key is no longer on the clipboard from copying.
The duration of the calculation depends on several factors. On the one hand, the character length is decisive, on the other hand, it is decisive whether upper and lower case is to be considered.
Basically it cannot be said exactly how long a calculation takes, because the calculation is subject to a random process!
Each additional character increases the difficulty and thus the duration to find a vanity address to the desired prefix by a factor of 58.
To find a vanity adress with 6 characters this generator needs some seconds to 25min. This will change as soon as the hardware is upgraded, then adresses up to 9 characters will be found in a few days.
If you don't use upper and lower case letters, you can find addresses with 10 characters within a few hours or a few days.
You get the public key from your private key. The generator only accepts compressed public keys. Create a Compressed WIF Private key store it securely as you store any other private key, a wallet can derive the public key from the private key.
Example with Electrum Wallet:
1. create a wallet:
-> Create new wallet
-> default wallet/ standard stock exchange
-> Create new seed
-> Write down the seed
-> Enter seed to check
-> Create password
2. export private and public key: OFFLINE!
-> Click on 'View' and select 'Show addresses'.
-> Select the tab 'Addresses
-> click with the right mouse button on an address and choose 'Private Key
-> Enter password
-> A new window will be opened, showing the address with the corresponding private key:
-> Save the private key starting with K or L, for example on an encrypted USB-stick or write it on a piece of paper!
-> close the window with the private key
-> right click again on the same address whose private key has been saved and select 'Details
-> a new window appears in the second line is the public key, save it in a file or short note. Done!
Basically, any wallet can be used that has an import function for WIF (Wallet Import Format) keys.
For Android I recommend the Mycelium application, because you can easily switch between the three address formats.
It is possible that your selected wallet does not show the vanity address but a different address format of this private key!