diff --git a/monero/base58.py b/monero/base58.py
index 1ad2e7f..38530f4 100644
--- a/monero/base58.py
+++ b/monero/base58.py
@@ -16,19 +16,16 @@ __encodedBlockSizes = [0, 2, 3, 5, 6, 7, 9, 10, 11]
 __fullBlockSize = 8
 __fullEncodedBlockSize = 11
 
-def _hexToBin(hex):
-    if len(hex) % 2 != 0:
-        raise ValueError("Hex string has invalid length: %d" % len(hex))
-    return [int(hex[i*2:i*2+2], 16) for i in range(len(hex)//2)]
 
-def _binToHex(bin):
-    return "".join('%02x' % int(b) for b in bin)
+def _hexToBin(hex_):
+    if len(hex_) % 2 != 0:
+        raise ValueError("Hex string has invalid length: %d" % len(hex_))
+    return [int(hex_[i:i + 2], 16) for i in range(0, len(hex_), 2)]
 
-def _strToBin(a):
-    return [ord(s) for s in a]
 
-def _binToStr(bin):
-    return ''.join([chr(bin[i]) for i in range(len(bin))])
+def _binToHex(bin_):
+    return "".join('%02x' % int(b) for b in bin_)
+
 
 def _uint8be_to_64(data):
     if not (1 <= len(data) <= 8):
@@ -39,6 +36,7 @@ def _uint8be_to_64(data):
         res = res << 8 | b
     return res
 
+
 def _uint64_to_8be(num, size):
     if size < 1 or size > 8:
         raise ValueError("Invalid input length: %d" % size)
@@ -51,6 +49,7 @@ def _uint64_to_8be(num, size):
 
     return res
 
+
 def encode_block(data, buf, index):
     l_data = len(data)
 
@@ -68,6 +67,7 @@ def encode_block(data, buf, index):
 
     return buf
 
+
 def encode(hex):
     '''Encode hexadecimal string as base58 (ex: encoding a Monero address).'''
     data = _hexToBin(hex)
@@ -80,7 +80,7 @@ def encode(hex):
     last_block_size = l_data % __fullBlockSize
     res_size = full_block_count * __fullEncodedBlockSize + __encodedBlockSizes[last_block_size]
 
-    res = [__alphabet[0]] * res_size
+    res = bytearray([__alphabet[0]] * res_size)
 
     for i in range(full_block_count):
         res = encode_block(data[(i*__fullBlockSize):(i*__fullBlockSize+__fullBlockSize)], res, i * __fullEncodedBlockSize)
@@ -88,7 +88,8 @@ def encode(hex):
     if last_block_size > 0:
         res = encode_block(data[(full_block_count*__fullBlockSize):(full_block_count*__fullBlockSize+last_block_size)], res, full_block_count * __fullEncodedBlockSize)
 
-    return _binToStr(res)
+    return bytes(res).decode('ascii')
+
 
 def decode_block(data, buf, index):
     l_data = len(data)
@@ -118,14 +119,14 @@ def decode_block(data, buf, index):
         raise ValueError("Overflow: %d doesn't fit in %d bit(s)" % (res_num, res_size))
 
     tmp_buf = _uint64_to_8be(res_num, res_size)
-    for i in range(len(tmp_buf)):
-        buf[i+index] = tmp_buf[i]
+    buf[index:index + len(tmp_buf)] = tmp_buf
 
     return buf
 
+
 def decode(enc):
     '''Decode a base58 string (ex: a Monero address) into hexidecimal form.'''
-    enc = _strToBin(enc)
+    enc = bytearray(enc, encoding='ascii')
     l_enc = len(enc)
 
     if l_enc == 0:
@@ -140,7 +141,7 @@ def decode(enc):
 
     data_size = full_block_count * __fullBlockSize + last_block_decoded_size
 
-    data = [0] * data_size
+    data = bytearray(data_size)
     for i in range(full_block_count):
         data = decode_block(enc[(i*__fullEncodedBlockSize):(i*__fullEncodedBlockSize+__fullEncodedBlockSize)], data, i * __fullBlockSize)