What is the difference between P2WPKH and P2PKH?

However, the defining feature of P2WPKH lies in its adoption of SegWit, or Segregated Witness. SegWit represents a significant upgrade aimed at enhancing Bitcoin's scalability and transaction throughput by segregating signature data from transaction data.

By leveraging SegWit, P2WPKH transactions enjoy improved efficiency and reduced transaction sizes. This, in turn, contributes to faster confirmation times and lower fees, making Bitcoin transactions more accessible and attractive to users.

Pay-to-Witness-Public-Key-Hash (P2WPKH) represents a revolutionary advancement in the Bitcoin ecosystem, specifically targeting the locking mechanism of digital currency. It introduces a novel ScriptPubKey that facilitates the secure allocation of bitcoins to SegWit addresses.

The integration of SegWit into P2WPKH underscores the ongoing evolution of Bitcoin as a decentralized digital currency. It showcases the community's commitment to enhancing the network's capabilities while maintaining its core principles of decentralization and security.

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