The purpose of checksums is to ensure data integrity when transferring. Given that WIF means Wallet Import Format, the assumption is that any private key in this format is being transferred from one place to another, and generally people want a check that the transfer was done successfully. Having a checksum built into the format allows for an integrity check to be done quickly at import time to inform the user whether there are any obvious errors.
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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The crypto market has grown increasingly cautious...
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