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Are any of the cryptocurrency exchanges using native segwit (bc1) addresses for any of its users?
Which crypto currency exchanges are using segwit (bc1) addresses for its users?
Answers
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As of November 2017, only Electrum wallet and blockchain.info are major services which support bech32 address format. A number of services use P2SH wrapped segwit scripts which is easier for backwards compatibility for the moment. This is expected due to the bech32 BIP (BIP 173) not being formalised at this point in time.
So do you recommend not to use bech32 addresses at the moment as they are not backwards compatible? – Patoshi パトシ – 2017-11-08T03:50:08.607
I'd suggest that services show the bech32 encoding first, and a legacy P2SH encapsulated version for those that don't support it yet. It's the only way that adoption will happen, otherwise you end up with a chicken and egg problem. – Anonymous – 2017-11-08T03:53:43.337
How does a legacy P2SH encapsulated version look? – Patoshi パトシ – 2017-11-08T03:56:00.623
It's indistinguishable from any other P2SH address until spending. – Anonymous – 2017-11-08T03:56:39.023