What is the difference between bitcoin native segwit and other transaction formats in the cryptocurrency market?

3 answers

• Soumya BaddhamJun 29, 2020 · 5 years ago
  Bitcoin native segwit, also known as bech32 addresses, is a transaction format that allows for lower transaction fees and increased capacity on the Bitcoin network. It is a more efficient and secure way of handling transactions compared to other formats. Other transaction formats, such as legacy addresses and P2SH addresses, have certain limitations and may require higher fees. Native segwit addresses are backward compatible, meaning they can receive funds from legacy addresses and P2SH addresses, but not vice versa. Overall, native segwit offers improved scalability and cost-effectiveness for Bitcoin transactions.
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• GSM Умный домJan 23, 2022 · 3 years ago
  Bitcoin native segwit is like the cool kid on the block in the cryptocurrency market. It's the new and improved transaction format that offers lower fees and faster processing times. Other transaction formats, on the other hand, are like the old school methods that still get the job done but may not be as efficient. So if you want to save some money and time, go with bitcoin native segwit. It's the way of the future!
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• Rahaf MahmoudOct 21, 2023 · 2 years ago
  In the cryptocurrency market, bitcoin native segwit is a transaction format that utilizes bech32 addresses. This format offers several advantages over other transaction formats. Firstly, it allows for lower transaction fees, which is a major benefit for users. Secondly, it increases the capacity of the Bitcoin network, enabling more transactions to be processed at once. Other transaction formats, such as legacy addresses and P2SH addresses, have their own limitations and may require higher fees. Therefore, bitcoin native segwit is considered a more advanced and efficient option for conducting transactions in the cryptocurrency market.
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