0000000000000000000000000000000000000000000000000000000000000000
1. Private key is 256 random bits.
80
0000000000000000000000000000000000000000000000000000000000000000
01
69F436DE
2. Prepend version number.
3. Append compression flag.
4. Append checksum. Checksum is the first 4 bytes of double sha256 hash of whatever is being checkedsum'ed.
KwDiBf89QgGbjEhKnhXJuH7LrciVrZi3qYjgd9M7rFU73Nd2Mcv1
5. Base58 encoded data is easier to read and manage. The "double-arrows" indicate this is reversible.
k
= 0000000000000000000000000000000000000000000000000000000000000000 *
6. Multiply the private key by the elliptic curve generator point to get the public key. The public key is a point on the elliptic curve and has x and y coordinates.
x = n/a
y = n/a
N/A
7. Use parity of y coordinate and full x coordinate to represent the public key.
N/A
8. Hash public key twice. This obfuscates the public key and shortens it.
00
N/A
9. Prepend version (version number is different than in step 2)
10. Append checksum (same method as step 4)
N/A
11. After another base58 encoding, we have our public address :)