A very good day to my steemian friends. Hope you all are having a lovely day. It yet time to continue my on the third week of my cryptoacademy. Writing on the topic : Segwit Bitcoin Network or Legacy Bitcoin Network, which do you prefer and why?

What is Segwit Bitcoin Network?

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Firstly, Segwit (Segragated Witness) came out of the need to improve on the lapses observed in bitcoin blockchain. It is an improvement over the current bitcoin blockchain, that aids in creating more space in the block needed to store transactions. Segwit seperates the transaction signatures of the witnesses from each transaction data, thus enabling more data to be handled by a block. To identify that a person is using a SegWit address, The address will be starting for the number 3 or bc1.
Some of the benefits are

1. Reduced transaction fees
2. Increased processing speed.
3. It reduces the rate of fraudulent activity on bitcon transaction unique ID.
4. It increases the transactions processed in each block
5. They are backward compatible, meaning that one can send btc back to the legacy address if he so desires

Legacy Bitcoin Network.

These are the original bitcoin addresses that start with the number 1. This wallet address supports all other exchanges and wallets, however certain factors makes it not to be sought after presently. These factors are:
A. Transactons conducted there are very slow.
B. Malleability or fraudulent can easily be carried on that address.
C. Transaction fees are also very high.

reference

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Answering the the question below,

Segwit Bitcoin Network or Legacy Bitcoin Network, which do you prefer and why?

I would like to say that I would personally prefer to use the SegWit Bitcoin Network address because of the following reasons below:

Reduced transaction fees
Increased processing speed.
It reduces the rate of fraudulent activity on bitcon transaction unique ID.
It increases the transactions processed in each block.
They are backward compatible, meaning that one can send btc back to the legacy address if he so desires

However, I would still like to keep at least one of the Legacy wallet addresses since SegWit is not supported by all wallets, such that when issues like "invalid bitcoin address", I can easily use the legacy address to receive the bitcoin.

cc: @steemcurator01
cc: @steemcurator02
cc: @gbenga