What are the differences between native segwit and segwit in the world of cryptocurrency?

3 answers

• Dec 27, 2021 · 3 years ago
  Native segwit and segwit are both types of address formats used in cryptocurrency transactions. Native segwit, also known as bech32 addresses, start with 'bc1' and offer lower transaction fees compared to segwit addresses. Native segwit addresses are more space-efficient, allowing for more transactions to be included in each block, which can help reduce congestion and lower fees. However, not all wallets and exchanges support native segwit addresses, so compatibility may be limited.
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• Dec 27, 2021 · 3 years ago
  Segwit, or 'pay to witness public key hash' (P2WPKH), addresses start with '3' and were introduced to address the scalability issues of the Bitcoin network. Segwit addresses offer lower transaction fees compared to traditional non-segwit addresses. They achieve this by separating the witness data (signature) from the transaction data, allowing for more transactions to fit in each block. Segwit addresses are widely supported by wallets and exchanges, making them a popular choice for users.
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• Dec 27, 2021 · 3 years ago
  From BYDFi's perspective, native segwit addresses provide several advantages in terms of transaction fees and scalability. They offer lower fees and can help reduce congestion on the blockchain. However, it's important to note that not all wallets and exchanges support native segwit addresses, so users should check for compatibility before using them. Segwit addresses, on the other hand, are widely supported and offer lower fees compared to traditional addresses. Overall, the choice between native segwit and segwit depends on the user's specific needs and the compatibility of their preferred wallets and exchanges.
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