One of the largest exchanges, which processes more than $1 billion per day, announced the introduction of Segregated Witness technology. Paolo Ardoino, CTO of the platform, believes that the implementation of the technology will provide benefits to users and Bitcoin is the future.
By implementing SegWit, Bitfinex successfully solves problems with network capacity, traffic speed and fees, which will be reduced by 20%.
Coinbase, the second major exchange, announced its decision to implement SegWit on the same day. Representatives of the platform announced that a phased launch for clients will begin in the coming days, and all functionality will work next week.
Recall that Coinbase representatives have been talking about plans to implement SegWit since November last year. In early February, the company posted a message on Twitter that said the developers were in the final stages of testing the protocol and it would be launched on the platform in the “coming weeks.” Well, Coinbase kept its promise.
Recall that Segregated Witness (“separate witness”) allows you to increase the speed of transactions and reduce commissions. The protocol was first activated on the Bitcoin network in August last year.
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