0

I've just downloaded bitcoin-core 0.17.1 and it seems all the new receiving addresses I create start with 3 instead of 1.

I always thought addresses which start with 3 were multisig addresses. Anyone know why default non multisig addresses are now 3 and what does this mean?

1

Those are P2SH (Pay-to-script-hash) addresses. You can read more about different address prefixes here: https://en.bitcoin.it/wiki/List_of_address_prefixes

Decimal prefix  Hex Example use                 Leading symbol(s)   Example
0               00  Pubkey hash (P2PKH address) 1                   17VZNX1SN5NtKa8UQFxwQbFeFc3iqRYhem
5               05  Script hash (P2SH address)  3                   3EktnHQD7RiAE6uzMj2ZifT9YgRrkSgzQX

Multisig addresses will be a P2SH address type so they will also start with a 3, because you cannot create an address out of a script unless it is either a P2PKH or P2SH (or segwit script with Bech32 address type). You can send Bitcoin to a multisig script, but if it is not hashed, and put into a pay-to-script-hash script, it cannot be represented as a standard address type.

  • 1
    The reason Bitcoin core uses a 3 prefix is because by default it uses P2SH(P2WPKH). – Ugam Kamat Apr 4 at 16:13

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.