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If you’ve been using bitcoin for a while, you’ve probably noticed that some bitcoin addresses appear quite different from others. You may have also seen discussion around several acronyms beginning with “P2,” such as P2PKH or P2WSH. If you’re unfamiliar with what these acronyms mean, here we’ll look through all the standardized on-chain methods for receiving bitcoin throughout its history and explain some essential differences that make each method unique.
P2PK
Pay-to-Public-Key (P2PK) is the original method of receiving bitcoin, and it does not involve an address. Instead, as the name suggests, bitcoin is paid directly t
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