DeFi Series
FAQ
What is BTC segwit?
Segwit is a method of blockchain expansion that has been successfully implemented in litecoin and bitcoin. At present, each block on the blockchain not only records the specific information of each transfer transaction, that is, how many bitcoins were received or transferred from the account at which point, but also contains the digital signature of each transaction to verify the legitimacy of the transaction.
When the miners package the blocks, they need to verify each transaction with a digital signature, confirm that there is no problem, and then record the transaction in the block. But for the average user, he only cares about how many assets are in each account and does not need to verify every transaction. Segwit is the digital signature information in the block out, so that each block can carry more transactions, thus achieving the purpose of expansion.
Advantages of segwit:
More secure, with better security than common addresses.
Faster, scalable block capacity, faster checking of transactions.
Cheaper, transaction fees are cheaper than regular address types.
How to identify the segwit address:
Most addresses of the segwit start with "bc", while ordinary addresses start with "1", and "3" may multiple signature addresses or the segwit address used for transitional period.
Last modified 1yr ago
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