Background

The first stop for users to come into contact with the crypto world is the wallet, or more precisely, the address. As a vehicle for on-chain activities and interactions, addresses are a necessity for every citizen in the crypto world. With the growth of blockchain users, the number of this native component of the blockchain has also maintained a rapid growth of more than 80k per day.

However, as the non-homogeneous and valuable native component that is necessary for everyone, the use of addresses was confined to a rather closed context.

Currently, having a private key means holding control of the address. The private key is unable to be changed, so once it is disclosed or shared, the uniqueness of the control can no longer be guaranteed as the address can only be controlled by one single owner for security concerns. In most cases where private keys are disclosed or shared, users will directly discard their old addresses and transfer all the transferable assets, while all interactions with the on-chain world through this address are left behind.

However, this situation makes the address not composable, which greatly limits the usage scenarios of the address. The address has no liquidity and cannot be transferred, traded or priced; the non-continuable on-chain behavior records and incomplete identity lead to undiscoverable historical behavioral records...

Altering the existing mechanism so that addresses can be transferred securely in some way could bring some wonderful changes to the crypto world ...