Bitcoin Addresses in Native SegWit (Bech32) Format

Addresses begin with "bc1", the Bech32 encoded address, an address format developed for SegWit.Bech32 was defined in BIP173 in late 2017, and one of the main features of the format is that it is case-insensitive (only 0-9, az, are included in the address), making it effective when entered avoiding confusion and being more readable. Because fewer characters are required in the address, it is easier and more efficient to calculate the address using Base32 encoding rather than the traditional Base58. The data can be stored more tightly in the QR code, and Bech32 provides greater security with better optimized checksum and error detection codes to minimize the chance of invalid addresses.

The Bech32 address itself is compatible with SegWit. No additional space is needed to put SegWit addresses into P2SH addresses, so the processing fee is lower with Bech32 format addresses.

For example: bc1qf3uwcxaz779nxedw0wry89v9cjh9w2xylnmqc3

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