Xapo Is Adding Segwit Support

The popular bitcoin wallet  Xapo has added support of the Segregated Witness protocol (SegWit). The president of the company Ted Rogers on Twitter has reported about it.

Xapo considers one of the largest crypto-wallets in the world therefore addition of support of SegWit this service is a significant event for branch.

So,  wallet Xapo which is stored in underground bunkers in Switzerland controls bitcoins in the total cost in more than $10 billion that it is more, than 5 670 banks in the USA. Xapo operates a large number of deposits, than 98 percent of banks in the United States.

Ryan Radloff, the founder of CoinShares – investment company which keeps bitcoins for the sum of $500 million in a cold wallet of Xapo, has said that they the vast majority of large investors who don't own or don't operate the private keys, keep the bitcoins in Xapo storages.

"Everyone who doesn't store keys independently stores them in Xapo", – Radloff has said.

He is echoed by the investor billionaire and the co-founder of LinkedIn Reid Hoffman according to whom, Xapo is one of very few successful companies which have turned functions on safety in the cryptocurrency industry into a profit source.

"These children the first have realized that these functions will become key", – he has noted. Hoffman invested in Xapo more than $20 million in 2014.

While Coinbase and Blockchain have considerable influence on the consumer market and individual investors in the cryptocurrency sector, Xapo dominates in the institutional market, directly interacting with large investors and retail traders.

Integration of Segregated Witness a wallet Xapo will allow to process large sums of bitcoins as SegWit-transactions that considerably will reduce costs and load of network, experts note.

We will note that on the middle of May the share of SegWit-transactions in network of bitcoin made about 40%, and rapid growth of a share of SegWit-transactions has begun approximately on the block 511097 got on February 27. At that time this indicator was 15,63%. Just per day on the block 511310 there was a jump and the indicator was 30,62%, having increased almost twice.