Coinbase and Bitfinex Bitcoin Scaling SegWit Upgrade Integration

Popular digital currencies exchange platforms, Coinbase and Bitfinex, both noted on February 20, that they’re now prepared to enforce the Segregated Witness scalability upgrade for Bitcoin. Coinbase tweeted the statement that it has completed the final testing stages of Segregated Witness for Bitcoin at the platform and is aiming for a one hundred percent release to all client by middle of the subsequent week. Bitfinex stated an already functioning rollout of Segregated Witness to all clients buying and selling in Bitcoin.


Coinbase stated in Twitter on February 20:

“Our engineering team has finished testing of Segregated Witness for Bitcoin on Coinbase. We’ll be beginning a phased release to clients over the following few days and are concentrated on a 100% launch to all clients by middle of next week.”

Coinbase had first announced the Segregated Witness upgrade in December 2017, and published an update at the beginning of February as they entered the last stages of checking out. The Segregated Witness upgrade targets to lessen transaction times and fees for transacting in Bitcoin, something that digital currency buyers have lengthy awaited during the latest period of growing expenses and slow transaction costs plaguing Bitcoin customers globally. Coinbase customers even began a petition urging the exchange to enforce Segregated Witness that garnered over twelve thousand signatures.


Popular bitcoin and different digital currency exchange, Bitfinex presently ranks fourth area amongst digital currency exchanges globally by trade quantity, trading a total of nearly $1.6 billion within the remaining day.

Bitfinex CTO Paolo Ardoino stated:

“Segregated Witness offers not just a direct advantage for customers, but additionally a basis for future Bitcoin development. By supporting Segregated Witness addresses, Bitfinex is tackling three of the largest digital enthusiast issues: transaction expenses, transaction speed, and overall network capability. We’re delighted that via this implementation we may offer our clients with bitcoin withdrawal expenses which are up to twenty percent lower, in addition to quicker-than-ever transaction speeds.”


However, the recent Bitcoin core client version 0.16.0 just launched for public editing on February 15 has additionally introduced the entire Segregated Witness upgrade. Joseph Young tweeted his fantastic perspectives about Coinbase’s Segregated Witness statement on February 21, noting that it is a good stuff and noting its importance for general Segregated Witness adoption at the Bitcoin network.

Joseph Young posted in Twitter on February 21:

“Segregated Witness adoption on the Bitcoin network will see huge increase with Coinbase’s SegWit integration, in order to be prepared in some days. Sturdy momentum, price growing, Segregated Witness in place, good stuff!”

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