Bitcoin Addresses
Bitcoin addresses come in various formats, each serving unique purposes and functionalities. Here's a quick guide to the main types:
Testnet Addresses (start with "2"):
Used for testing and experimentation on Bitcoin's testnet network.
Legacy Addresses (start with "1"):The original Bitcoin address format, widely used and encoded using Base58.Compatibility with most wallets and exchanges.
SegWit Addresses (start with "3"): Introduced to improve scalability and transaction speed, utilizing Pay-to-Script-Hash (P2SH) script type. More secure and efficient transactions, offering reduced fees.
Bech32 Addresses (start with "bc1"):The latest advance address format designed to further enhance efficiency and security, fully leveraging SegWit benefits.
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