Segwit and Legacy are distinct transaction formats employed in the Bitcoin blockchain. They were introduced as upgrades to enhance the efficiency and security of the original Bitcoin network.
Segwit, short for Segregated Witness, boosts the block size limit by separating the witness data. This separation enables more transactions to be accommodated in a block. As a result, it often leads to reduced transaction fees and quicker confirmation times, particularly when the network is congested.
In Noone Wallet, you have the option to use Segwit, Legacy, or both according to your preference.
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