In a recent article, the crypto-stock exchange Bitstamp has announced support for Bitcoin addresses Segwit as well as its protocol bech32 to improve the efficiency of transactions. Bech32 will help reduce the “human errors” during the registration addresses for a transaction, given that it is the latest form of Bitcoin address.
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Bitstamp opts for the security of the scriptures
In its press release, Bitstamp has mentioned some of the reasons which led him to adopt this new formula for the addresses deposit BTC. In this case, the crypto-exchange has leased the advantages that this technology could bring to the platform Blockchain but also for the users.
Thanks to the format bech 32, the transactions will be less “heavy” and will not consume a lot of space, claims the company before continuing that ” the main advantage of the use of bech 32 is that it prevents human error when writing “.
A low margin of error
Addresses bech32 have been designed to provide better security for transactions in connection with the registration of addresses. In depth, these addresses will start with “bc1″, and are not case-sensitive. In this perspective, the operator of the transaction is less exposed to a typo with the risk of sending funds to an incorrect address.
On the other hand, bench 32 also has an automatic checking system ” address format “. In simple terms, this means that an incomplete address and non-respectful of the protocol will be invalidated automatically.
Finally, it will be always possible for clients to Bitstamp to keep the old format, however the company invites to a transition to Segwit bench32 to maximize the effectiveness of transactions that Bitcoin.
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