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.
You May Also Like
Nasdaq plans to trade Bitcoin futures despite falling prices
Nasdaq is now trying to answer all questions from the Commodity Futures Trading Commission in order to launch contracts in the first quarter of 2019.
Huobi creates a new committee to work with the Chinese Communist Party
The Huobi Group has established a Communist Party cell in one of its subsidiaries in Beijing. The group that owns the Huobi exchange announced on its website on November 16 that it is “necessary to implement” the principles and policies of the Communist Party into private companies. The move, which is a first of its kind for the Chinese cryptocurrency space, is also aimed at gaining party support for the platform's business in the country.
