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Topic: Future of P2PKH (Read 144 times)

aplistir
full member
Activity: 378
Merit: 197
Future of P2PKH
March 16, 2018, 05:16:27 PM
#3
Quote from: ?? on ??
P2PKH/Legacy address don't have place in future if bitcoin community move forward with newer technology, but surely it's slow process just like moving from IPv4 to IPv6 Roll Eyes
Also, i'm sure future technology/update won't support P2PKH/Legacy address. Even LN now drop support for P2PKH/Legacy address.

I think we will newer get rid of P2PKH legacy addresses. The network always has to be able to make transactions from them, because there will always be old addresses that have been made when the only choice was P2PKH.
Sometimes people find their OLD private keys. It would be strange if someone had "stolen" their money by disabling support for old addresses...

Also for security minded persons, legacy addresses may be better.  They have been around longer, and haven't been cracked.
On the other hand, there are interesting articles about the security of SegWit addresses. (From the time when SegWit was coming.) If SegWit support is removed, then all coins in SegWit addresses would be "anyone can spend" -coins. And that would literally mean that anyone can spend those coins!

For big amounts of BTC I will always prefer P2PKH addresses. For smaller sums, the spending wallet, SegWit wins.
bitmover
legendary
Activity: 2352
Merit: 6089
bitcoindata.science
Re: Future of P2PKH
March 16, 2018, 07:42:14 AM
#2
Quote from: hugeblack on March 16, 2018, 06:36:34 AM
SegWit:(soft fork) had Bitcoin Improvement Proposal number BIP141 to solve malleability.
BIP141 Segregated Witness (Consensus layer) – activated on August 24, 2017. [1]

Over time, many exchange platform and wallets began to support this technology:


SegWit Charts ------------> http://segwit.party/charts/#

Do you think "P2PKH/address begin with the number [1]" has a place in the future?
Sources:
#1 https://en.wikipedia.org/wiki/SegWit

As fees are much lower in Segwit, probably there will be no place for Legacy addresses in the future.

But for now most of web and mobile wallets (which are the most friendly wallets for newbies) support only Legacy address. Most exchanges support only Legacy address too.

There is also the impossibility to sign messages with segwit address. Only electrum sign bech32 P2WPKH addresses, but non-standard.
I still use legacy address when I need to sign messages (like when recovering account in this forum).

hugeblack
legendary
Activity: 2702
Merit: 4002
Re: Future of P2PKH
March 16, 2018, 06:36:34 AM
#1
Quote from: https://en.wikipedia.org/wiki/SegWit
SegWit:(soft fork) had Bitcoin Improvement Proposal number BIP141 to solve malleability.
BIP141 Segregated Witness (Consensus layer) – activated on August 24, 2017. [1]

Over time, many exchange platform and wallets began to support this technology:

SegWit Charts ------------> http://segwit.party/charts/#

Do you think "P2PKH/address begin with the number [1]" has a place in the future?
Sources:
#1 https://en.wikipedia.org/wiki/SegWit
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