Blockchain wallet

in STEEM NIGERIA4 years ago

There are three big types of cryptocurrency.
Bitcoin, altcoins and Tokens
But bitcoin is what everyone talk about
So Bitcoin is regarded as a digital cash cryptocurrency stored in public decentralized ledgers built in an open source blockchain, as all know, so from the the Task given.
First is segwit Bitcoin Network which means segregated Witness, this is to separate the digital signature of the block from the transaction originated with the growth of bitcoin itself and the increase in it transaction. The digital signature occupies approximately 65% of the size of the transaction block and this block had a limit size of only 1MB, with a digital signature occupying so much space it was practically impossible to increase the number of transaction which the number of transaction increase.
Bitcoin Legacy, is also a format that determines that it has been inherited from the original bitcoin address that it has maintained since it inception. These types of address are also known as P2PKH. When the bitcoin innovation arose the address were modified slightly assigning a different format to the new users.
And the important thing about this is that you can distinguish them
SegWit and legacy. All you need to do is to look at the way address starts.
The address for bitcoin legacy which is those inherited from the original bitcoin start with the number 1and correspond to the P2PKH format that means hash pay to pulley. Why that of SegWit address start with the number 3.
So I prefer SegWit bitcoin than legacy bitcoin because
in SegWit There is increased in capacity to store more transactions means lower transaction fee, more transactions per block = faster transactions. In addition to that, it would also fix transaction malleability, an attack that lets a person change a Bitcoin transaction’s unique ID before the transaction is confirmed on the Bitcoin network, but legacy bitcoin is not.
Thanks
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