Pros / Cons of using the new bc1xxx segwit address vs the 3xxx segwit address?

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What are the pros/cons of using the new bc1xxx segwit address vs the 3xxx segwit address?

Patoshi パトシ

Posted 2018-03-16T18:41:01.277

Reputation: 8 911

a longer (opinion based) thread here, with GMaxwell explaining details: https://bitcointalk.org/index.php?topic=2624630.0

– pebwindkraft – 2018-03-16T19:08:37.767

Answers

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Properties of the address format (Bech32 vs Base58Check):

  • Pro: Better error detection (up to 4, and sometimes 5, characters can be wrong and the sender software will always detect it)
  • Con: Longer
  • Con: Not all software supports sending to such addresses

Properties of the output type (native segwit vs P2SH-wrapped segwit):

  • Pro: Slightly cheaper to spend money received on such an address (no P2SH overhead)
  • Pro: Very slightly cheaper to send to
  • Con: Not all software supports creating such addresses

Pieter Wuille

Posted 2018-03-16T18:41:01.277

Reputation: 54 032

Asked: 2018-03-16T18:41:01.277

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Active: 2018-03-16T19:26:55.183