I’d be happy to help you with an article on Ethereum’s Segwit upgrades. Here it is:
Ethereum: What’s the Difference between Old Segwit and New Segwit Address (BC)?
The Ethereum network has undergone significant changes over the years, including two major Segwit upgrades. Understanding these differences can help you navigate the latest developments in Ethereum’s blockchain.
Old Segwit (3)
In 2016, Ethereum introduced Segwit (short for “Segregated Witness”), a new protocol that aimed to improve the network’s scalability and reduce transaction fees. Segwit introduced a new type of address called
BC1 addresses, which are used to identify individual transactions on the Ethereum blockchain.
New Segwit Address (B)
In 2020, Ethereum made another significant upgrade: the
New Segwit Address (B) protocol. This change introduced a new type of address called
BC2 addresses, which are similar to BC1 but use a different script and syntax.
What’s the difference between Old Segwit and New Segwit Address?
The main differences between Old Segwit and New Segwit Address are:
- Address syntax
: Old Segwit uses “3” as part of the address, while New Segwit Address uses “B”.
- Script usage: New Segwit Address uses a different script and syntax, which may affect the behavior of certain smart contracts.
- Transaction fees: In some cases, transactions made with new addresses (BC2) might incur lower transaction fees compared to old addresses (3).
- Compatibility: The new protocol is still compatible with existing applications that use BC1 addresses.
Are Transactions Fee the Same for New Segwit (Bc1)?
The short answer is: no. Transaction fees are not always the same for Old Segwit (3) and New Segwit Address (B). While some transactions might incur lower fees, others might still incur the same or even higher fees depending on the specific use case.
Conclusion
Understanding the differences between Old Segwit and New Segwit Address can help you navigate the latest developments in Ethereum’s blockchain. While there may be some minor differences in transaction fees, it’s essential to ensure that your applications are compatible with both protocols. If you’re unsure about which protocol to use for a particular application, consult the official Ethereum documentation or reach out to an experienced developer or community member.
I hope this article helps!