Segwit Address Support

  • Resolved danescobar

    (@danescobar)


    5 years, 3 months ago

    Hi @nomiddleman,

    I’m a newbie to BTC having some doubts about the support your plugin has for different Segwit addresses and how this is explained in your website.

    In your extensions page you seem to confirm your plugin doesn’t support Segwit addresses yet. I’ve entered a Segwit P2SH address in the settings section and it has accepted it, should I enter a Legacy address then to be able to accept payments?

    My wallet only has Segwit and Bech32 (what you refer as Segwit P2SH and Native) addresses and I’d have to open a new one to have a Legacy address, it’s a bit of a hassle so is there a way to enter a Segwit address for now?

    Also the BTC wiki mentions Bech32 is not widely adopted yet. Can I enter a Bech32 address in your plugin to have its advantages? What problems would I encounter if I only accept payments in this address? Some buyers could not pay me because their wallets would not support payments to Bech32 addresses?

Viewing 3 replies - 1 through 3 (of 3 total)
  • Plugin Author Nomiddleman Crypto

    (@nomiddleman)

    Hello!

    Our apologies as the website is misleading.

    We support Native Segwit and Segwit P2SH addresses for Classic Mode and Autopay Mode. For Privacy Mode we only support Legacy BTC addresses.

    Since you mentioned you entered a Segwit P2SH address and not a Segwit P2SH master public key (also called MPK), you should be fine.

    The transaction is signed based on the input address type (person that sends the transaction). This means that you get all the benefits of Segwit only when sending (as that is when you pay the fee and it’s added to the blockchain mempool). All addresses types can send to all address types. So a legacy address can send to a Native Segwit Bech32 address, however they won’t reduce their transaction size or anything else.

    However, most (all?) wallets validate the receiver’s address to make sure you are not sending a transaction to an address that can not exist (you can still send a transaction to an address that “does not” exist.)

    If one of your customers uses a wallet that either:

    • Was created before Segwit was proposed
    • Has not been updated since the wallet introduced Segwit support
    • Has devs that never implemented Segwit

    Then most likely the wallet will not be able to validate that the Segwit address can exist. Therefore the user will get an error and will not be able to send funds to your Segwit address.

    This is probably pretty unlikely now as all major wallets have implemented Segwit and it might even be better (if you have a nice enough product) to force your customer to use a wallet that supports Segwit so we help weed out those users.

    Cheers.

    Thread Starter danescobar

    (@danescobar)

    Thank you very much for this clarification. Perhaps it could be useful for future users of your plugin to include this in your website. Congratulations for the good job you’re doing with this plugin and have a great day!

    Plugin Author Nomiddleman Crypto

    (@nomiddleman)

    Question answered. Closing.

Viewing 3 replies - 1 through 3 (of 3 total)
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