By Tygoktilar - 06.02.2020
Litecoin address vs bitcoin address
23 votes, 18 comments. Hello everyone. 1st post here. I was looking at some addresses on the blockchain and came accross and accross The address in . magazin-obzor.ru › Litecoin-Address-Format.
What is the difference between SegWit and Legacy address?Charlie Lee returns! Bitcoin, Litecoin, MimbleWimble, PayPal, INX, Cred, Crypto History, DeFi, CBDCs
SegWit means Segregated Witness, where Segregated is to separate and Litecoin address vs bitcoin address is the transaction signatures involved with a specific transaction. In a nutshell, it is an improvement over the current bitcoin blockchain which reduces the size needed to store litecoin address vs bitcoin address in a block.
Why use SegWit? The main benefit of separating the transaction signature from the transaction litecoin address vs bitcoin address is it reduces the size of the transaction data needed to store in litecoin address vs bitcoin address block.
This allows litecoin address vs bitcoin address block to have extra capacity to store more transactions per block.
This means the network can litecoin address vs bitcoin address more transactions per block and the sender pays lower transaction fees. This helps to improve your transaction confirmation lead time with added security.
Another advantage litecoin address vs bitcoin address SegWit is that they are backwards compatible, meaning that you are able to send funds from a SegWit address to a Legacy address.
One major downside with a SegWit address is that not all wallets, litecoin address vs bitcoin address and services support sending to them.
You will need to make sure that whatever you are using to send to your Crypto. Did this answer your question?
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