What is the difference between native segwit and other transaction formats on ledger?

3 answers

• Bean CherryApr 26, 2024 · 2 years ago
  Native segwit, or bech32 addresses, are a newer transaction format that offers lower transaction fees and improved scalability compared to other formats. It uses a different address format and witness data structure, resulting in smaller transaction sizes. This means that transactions using native segwit addresses can be processed faster and with lower fees. Other transaction formats, such as legacy and segwit addresses, are older and have different address formats and witness data structures. While they are still widely used, they may have higher fees and slower processing times compared to native segwit transactions.
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• thelostsouldownSep 09, 2021 · 4 years ago
  Native segwit is like the cool kid on the block. It's the latest and greatest transaction format that everyone is talking about. It's faster, cheaper, and more efficient than the older formats. Think of it as the Tesla of transaction formats. Other transaction formats, on the other hand, are like the old clunky cars that are still on the road. They get the job done, but they're not as sleek and high-performing as native segwit. So if you want to stay ahead of the game and save some money on transaction fees, native segwit is the way to go!
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• PZRoeeMay 23, 2023 · 3 years ago
  When it comes to transaction formats on the ledger, native segwit is the real game-changer. It offers significant advantages over other formats in terms of speed, cost, and scalability. Native segwit addresses have a different format and structure compared to legacy and segwit addresses. This allows for more efficient use of block space and lower transaction fees. Other transaction formats, while still widely used, may not offer the same level of optimization and cost-effectiveness. So if you're looking for a transaction format that combines speed, cost-efficiency, and scalability, native segwit is the clear winner.
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