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What is a Legacy Address (P2PKH)?

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Written by UKey Wallet

Definition: This is the original Bitcoin address format, typically starting with the number 1.

Core Logic:

  • Historical Origin : It is the primary format designed by Satoshi Nakamoto and is universally supported by all wallets and exchanges.

  • How it Works : P2PKH stands for "Pay To PubKey Hash." Essentially, funds are locked to a "fingerprint" of your public key, which only your private key can unlock.

  • Main Drawback : Compared to newer formats (like those starting with 3 or bc1), it is less data-efficient, resulting in the highest transaction fees. It does not support SegWit.

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