The cryptocurrency brokerage company Coinbase declared it plans to release SegWit support "in the next few weeks," a move that guarantees to reduce customer transaction fees and reduce overcrowding across the network.
The firm announced on Twitter, declaring that "our engineering team has started SegWit's final testing phase for Bitcoin, and that Bitcoin compatible with SegWit will be ready for customers in the coming weeks. SegWit or Segregated Witness was initiated on the Bitcoin network with a soft fork last August. By reducing transaction sizes, SegWit cuts commissions and optimizes limited time in Bitcoin blocks. But, users only use this feature if they use SegWit-compliant portfolio addresses. According to data provided by the hardware wallet manufacturer Trezor, only 15% of Bitcoin transactions now use SegWit, down from a high of about 18% at the end of January. The current reduction could be related to lower user fees for users to transfer funds from inherited addresses to those compatible with SegWit, but in any case, it is clear that the chain does not face all the benefits of updating scaling since Coinbase and several other large companies have been slow to implement it.(Image not shown due to low ratings)
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I'm super excited for segwit on coinbase!
Good read. Hey @spiry-btc, thanks for dropping by to one of my post. Have a nice day!
Excellent information, useful for many. We hope that there will continue to be news like this one. Thank you in advance for the support.
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Nice moves it will help many bitcoin appellate.
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