UKey Wallet

Taproot (bc1p) : An evolution of SegWit. By "merging" multiple signatures into one, it makes complex transactions look like simple ones on the blockchain, significantly boosting privacy.

Fee Logic : Generally, the newer the address format (<code>bc1p</code> or <code>bc1q</code>), the lower the transaction fees you will pay.

- Taproot (bc1p) : An evolution of SegWit. By "merging" multiple signatures into one, it makes complex transactions look like simple ones on the blockchain, significantly boosting privacy.
- Fee Logic : Generally, the newer the address format (<code>bc1p</code> or <code>bc1q</code>), the lower the transaction fees you will pay.

Bitcoin Address Formats Summary

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Address Type	Starts With	Characteristics	Best Use Case
Legacy (P2PKH)	`1`	Original format; highest fees; universal support.	Use only with extremely old wallets.
Nested SegWit (P2SH)	`3`	Great compatibility "wrapper"; supports Multi-Sig.	Use when balancing compatibility & fees.
Native SegWit (Bech32)	`bc1q`	Modern standard; low fees; includes error detection.	Recommended for daily use.
Taproot (P2TR)	`bc1p`	Latest upgrade; best privacy; supports complex scripts.	Use for enhanced privacy or advanced features.