Blockchain & Cryptocurrency Glossary

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Legacy Address

1 min read
Pronunciation
[leh-guh-see uh-dress]
Analogy
Legacy addresses are like old mailing addresses—still valid but superseded by newer, more efficient formats.
Definition
A original Bitcoin address format (P2PKH) starting with “1”, predating SegWit upgrades.
Key Points Intro
Legacy addresses differ by:
Key Points

Prefix “1”: Indicates P2PKH script.

Higher fees: Larger script size than SegWit.

Compatibility: Supported by all wallets and exchanges.

No witness: Does not use segregated witness for signatures.

Example
A Bitcoin address like 1BoatSLRHtKNngkdXEeobR76b53LETtpyT is a legacy P2PKH address.
Technical Deep Dive
P2PKH scriptPubKey: OP_DUP OP_HASH160 OP_EQUALVERIFY OP_CHECKSIG. Redeem via unlocking script with signature and pubkey. No segregated witness data.
Security Warning
Higher transaction fees apply; consider migrating funds to SegWit for cost savings.
Caveat
Legacy addresses lack benefits of malleability fix and lower fees.
Related Terms
SegWit Address

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