What is Segwit?
Segregated Witness (Segwit) was initially proposed by Bitcoin core developer Pieter Wuille in 2015. Segwit has been considered as an optimal solution in response to Bitcoin expansion. Addresses that support Segwit are uniformly initialized by "3", inconsistency with those of multi-signature wallet.
The benefits of Segwit
- More secure.
- Augmented block capacity.
- Swift transaction inspection.
- Decreased transaction fees compared to normal wallet address starting with 1.