What are Bitcoin address formats and where do the differences lie? Explore the world of Bitcoin addresses and their significance for transactions. Legacy, Wrapped-Segwit, Native-Segwit, and Taproot – which address suits your needs? 💰🔍 #Bitcoin #Blockchain

1. #Legacy addresses are the traditional Bitcoin addresses, but compared to other formats, they may incur higher transaction fees. They start with '1' and use Base58Check encoding. Ideal for compatibility but not for fee efficiency.

2. #Wrapped-Segwit addresses combine old and new technologies. They start with '3' and use the P2SH-P2WPKH script standard. Good for compatibility with older wallets but not as fee-efficient as Native-Segwit. #Cryptocurrency.

3. #Native-Segwit addresses offer the lowest transaction fees and improved error detection. They start with 'bc1q' and use the P2WPKH script standard and bech32 encoding. Optimal for cost efficiency and performance.

4. #Taproot addresses, starting with 'bc1p', are still less common but offer improved privacy, performance, and predictable fees. They use the bech32m scheme and the P2TR standard. Futuristic but still in the adoption phase.