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From: "Russell O'Connor" <roconnor@blockstream.io>
Date: Wed, 13 Jun 2018 10:58:33 -0400
Message-ID: <CAMZUoKkstFOrA3xR7S1j2xJVYG+9L72TrLjAhFdPrQwwVyxXgA@mail.gmail.com>
To: Jonas Schnelli <dev@jonasschnelli.ch>, 
	Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
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Subject: Re: [bitcoin-dev] New serialization/encoding format for key material
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On Tue, May 29, 2018 at 5:13 AM, Jonas Schnelli via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:

> Hi
>
> If 520 bits are present, first 256 bits are the BIP32 chain code, to
> second 264
> bits (33 bytes) define the public key (according to BIP32)
>

In a 33 byte compressed public key, only 1 bit from the first byte conveys
information.  The other 7 bits can be discarded.  This will allow you to
reduce the bech32 encoded result by one character.

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<div dir=3D"ltr"><div class=3D"gmail_extra"><div class=3D"gmail_quote">On T=
ue, May 29, 2018 at 5:13 AM, Jonas Schnelli via bitcoin-dev <span dir=3D"lt=
r">&lt;<a href=3D"mailto:bitcoin-dev@lists.linuxfoundation.org" target=3D"_=
blank">bitcoin-dev@lists.linuxfoundation.org</a>&gt;</span> wrote:<br><bloc=
kquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1px #cc=
c solid;padding-left:1ex"><div style=3D"word-wrap:break-word;line-break:aft=
er-white-space"><div><div>Hi</div><br><div>If 520 bits are present, first 2=
56 bits are the BIP32 chain code, to second 264=C2=A0</div><div>bits (33 by=
tes) define the public key (according to BIP32)</div></div></div></blockquo=
te><br></div><div>In a 33 byte compressed public key, only 1 bit from the f=
irst byte conveys information.=C2=A0 The other 7 bits can be discarded.=C2=
=A0 This will allow you to reduce the bech32 encoded result by one characte=
r.<br></div></div></div>

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