Bech32

Bech32 is a specific address format used in cryptocurrencies that follows a specific set of rules to ensure compatibility and functionality across different platforms. It is derived from the original Segregated Witness (SegWit) address format and is designed to improve efficiency and security in transactions.

Bech32 addresses begin with “bc1” followed by a series of letters and numbers that are not case-sensitive. They are known for being longer and more complex than traditional addresses, but offer benefits such as error detection and prevention features.

One key advantage of Bech32 addresses is their resistance to address format errors, as they include a checksum that can identify typos and prevent funds from being sent to the wrong address. Additionally, Bech32 addresses are compatible with native SegWit wallets and provide lower transaction fees compared to legacy address formats.

Overall, Bech32 addresses play a crucial role in enhancing the usability and security of cryptocurrency transactions, making them a preferred choice for many users and platforms.