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Author: Admin | 2025-04-28
Of legacy addresses.However, implementing SegWit may require some changes for wallet developers and exchanges, but many major Bitcoin wallets and services already support it due to its advantages.In the image below is an example of a SegWit address, beginning with the number 3 and utilizing a P2SH script function, frequently employed for multisig addresses.Native Segwit addresses further optimize rates. However, as they are more recent, not all wallets have Native SegWit support. Currently, more than 11% of Bitcoin is stored in a Native Segwit address, and adding up the two types of Segwit addresses, they already account for almost 75% of the dominance of Bitcoin addresses today.Transactions using this type of address take up even less space in the block, 211 vbytes, well below the 267 of normal SegWit and much less than the 374 vbytes of legacy addresses.Finally, let’s explore one more address type, which is part of the latest Bitcoin update.4. Taproot (P2TR)Taproot is an update that was proposed and later implemented in the Bitcoin network, aiming to enhance transaction flexibility, efficiency, and privacy. This significant update was activated in November 2021. Among various improvements, Taproot introduces notable changes to Bitcoin addresses.Here’s a simplified explanation of Taproot addresses:1. Privacy and FlexibilityTaproot enhances privacy and flexibility by seamlessly integrating complex transactions, such as those involving multiple signatures or advanced scripts, into regular transactions on the blockchain. This not only boosts efficiency but also makes it more challenging to differentiate between transaction types, thereby enhancing privacy.2. Space SavingAs Taproot transactions
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