Can someone explain how addresses are created on the blockchain?, if there is a limit to how many addresses that can be created? Is it possible for addresses to double up? And if an address can be created for every person on the planet as a retirement fund that is secure similar to like a 401k or superfund and funded through the entire working life of the address owner depending on that persons income
Not clear on address creation myself. There’s a limit but it’s astronomical. Don’t know what you mean by “double up”. Yes the retirement fund thing is theoretically possible but who/what would organise it? Not Emurgo, IOHK or Cardano Foundation, that’s for sure, none of them is in that sort of business.
Although this is a simplification:
- Your wallet corresponds to a public key
- There is an algorithm to generate multiple child public keys from one parent public key
- Addresses are generated from a public key (+ some extra data and sometimes multiple keys)
You can learn more by reading about BIP39, BIP32 and BIP44 (standards that multiple cryptocurrencies implement for this)