SegWit Adopted by World’s Two Biggest Exchanges

[kreslik.news]

Bitfinex and Coinbase, cryptocurrency exchanges from Hong Kong and San Francisco respectively, announced yesterday that they will now be accepting payments and withdrawals in Bitcoin from wallets updated with ‘segregated witness’.

Segregated witness, or SegWit, is an update of the Bitcoin blockchain. It enlarges the blocks which make up the chain, which allows for faster transactions speeds, lower transaction fees, and improved security.

It does this by separating signature and transaction data. All transactions in the blockchain are approved by a digital signature, and in the original chain these two sets of data are stored together, taking up a certain amount of ... (read more)