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What is segwit and why should I use it?

Segwit stands for "‍segregated witness"‍ and is a technique that reduces bitcoin transaction fees. Segwit moves all of the signature data in a bitcoin block to the end, lumping the signatures of all transactions together. This allows more transactions to fit in the same amount of space, while maintaining the security of the bitcoin blockchain. The most important benefit of more transactions per block is that the transaction cost of each transaction goes down compared to legacy transactions.

Segwit uses different addresses from legacy bitcoin, and some third-party wallets or services may not support segwit addresses. Zion supports both segwit and legacy addresses within the same wallet, and you can switch between them at anytime.

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