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What are the differences between tz1 and KT1 addresses? How are they typically used? How does one go about creating one?

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  • please accept the answer if you find it to have satisfied your needs
    – Sm00g15
    Feb 3 '19 at 22:03
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tz1 and kt1 addresses have the same functionality in terms of transactions. However, there is one difference, kt1 accounts have smart contract functionality and tz1 does not. Also, you can use your tz1 account to self-bake but you cannot use your tz1 account to delegate. As for kt1 accounts, you can use this address to delegate but you cannot use your kt1 to bake.

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    Also important to know: The KT1 is a smart contract controlled by the tz1 address. You can't have a KT1 without a tz1 address. Jan 30 '19 at 7:52
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    The tz1 address, aka the "manager address" is your initial address that you can use both for transactions and for (self)baking your tez using your own node. If you want to delegate baking to someone else's baker you need to create a "derived" address to do. This derived address is the KT1 address. After deriving the KT1 from your tz1 address in your wallet of choice, you will need to transfer the amount that you want to point to an external baker to your KT1 address and point this KT1 address to the baker of your choice.
    – ciTEZen
    Jan 31 '19 at 12:55
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    Neat fact: KT1 addresses were initially called TZ1 addresses, but they were renamed by the core dev team for clarity and, legend has it, in honour of Kathleen Breitman, the Tezos CEO :-)
    – ciTEZen
    Jan 31 '19 at 12:55

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