Cryptocurrency Q&A
What is the difference between SegWit and legacy?
What is the difference between SegWit and legacy?
ZenBalance
Mon Dec 02 2024
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5 answers
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I want to understand the distinction between SegWit and legacy. I'm curious about how they differ in terms of their functionality, usage, and impact on the overall Bitcoin network.
5 answers
SamuraiHonor
Wed Dec 04 2024
SegWit and Legacy addresses are two distinct formats used in Bitcoin transactions.
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CherryBlossomGrace
Tue Dec 03 2024
SegWit stands for Segregated Witness, a term that signifies the separation of transaction signatures from the transaction data. This separation allows for more efficient processing of transactions, leading to the reduction in fees.
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Matteo
Tue Dec 03 2024
Legacy address represents the original BTC address format that has been in use since Bitcoin's inception.
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HallyuHype
Tue Dec 03 2024
On the other hand, SegWit is a newer address format that offers various advantages over the Legacy address.
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SakuraDance
Tue Dec 03 2024
One of the primary benefits of SegWit is lower transaction fees, making it a more efficient and cost-effective option for Bitcoin users.
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