Ethereum: What the difference between old segwit (3) and…
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** Ethereum: What is the difference between old Segwit and new Segwit address (BC)?
The Ethereum network has experienced significant changes over the years, including two important Segwit upgrades. Understanding these differences can help you to control the latest developments in Ethereum’s blockchain.
Old Segwit (3)
In 2016, Ethereum Segwit (short for “separate witness”) introduced a new protocol that aimed to improve the scalability of the network and to reduce transaction fees. Segwit led a new type of address to a name
BC1 addresses , with which individual transactions are identified on the Ethereum blockchain.
New Segwit address (b)
In 2020 Ethereum made another significant upgrade: the new Segwit address (B)
Protocol. This change led a new type of address to a name
BC2 addresses ** that are similar to BC1, but use another script and another syntax.
** What is the difference between old Segwit and new Segwit address?
The main differences between old Segwit and the new Segwit address are:
* Address syntax : The old Segwit uses “3” as part of the address, while the new Segwit address “B” uses.
* knitting use
: New Segwit address uses another script and another syntax that can affect the behavior of certain intelligent contracts.
Transaction fees : In some cases, transactions with new addresses (BC2) can cause lower transaction fees compared to old addresses (3).
* Compatibility : The new protocol is still compatible with existing applications that use BC1 addresses.
** Are transaction fees for new SEGWIT (BC1) the same?
The short answer is: No. While some transactions may cause lower fees, others may be incurred or even higher fees after the specific application.
Diploma
Understanding the differences between the old Segwit and the new Segwit address can help you to control the latest developments in Ethereum’s blockchain. While there may be some smaller differences in the transaction fees, it is important to ensure that your applications are compatible with bone protocols. If you are not sure which protocol should be used for a specific application, consult the official documentation of Ethereum or contact an experienced developer or a community member.
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