Bitcoin Address Evolution
Bitcoin has 4 main formats developed over soft forks:
- Legacy (P2PKH): Starts with
1, uses Base58Check. Highest fees. - Nested SegWit (P2SH): Starts with
3, supports multi-sig and SegWit backward compatibility. - Native SegWit (Bech32): Starts with
bc1q, lower fees, base32 encoding with typo resilience. - Taproot (Bech32m): Starts with
bc1p, Schnorr signatures, batch validation, privacy.