Bitcoin
Why are there so many different address formats in Bitcoin?
We know that Bitcoin has at least four completely different address formats. Legacy format, bch32 script, segwit. We know that each address format implies a different transaction type, such as a payment for a public key hash, a payment for a script, or a Segwit payment.
But my question is why not just use one kind of address type like legacy p2pkh?
In contrast, Ethereum and other blockchains have only one address format. Do these blockchains lack some functionality that necessitates the introduction of new address formats?
Or if you only use the original Bitcoin address format, that’s another question. Legacy p2pkh. Is it possible to implement the functionality in a different format?