Coinbase Announced SegWit Compatibly!

in coinbase •  9 months ago

Coinbase have announced (https://blog.coinbase.com/announcing-segwit-support-on-coinbase-4e51117857c7) that the site will now be implementing SegWit on Bitcoin deposits and withdrawals.

The transition is being implemented over the coming week, and should improve transaction speeds and lower fees. SegWit was introduced August of last year through BIP 141 (Bitcoin Improvement Proposal), however Coinbase was slow to adopt the technology. The lack of implementation of the technology was increasingly frustrating for Coinbase users, who launched a petition(https://www.change.org/p/coinbase-coinbase-prioritize-segwit-implementation-on-the-coinbase-bitcoin-wallet-gdax-exchange)calling for the exchange platform to prioritize SegWit implementation over other upgrades. The petition noted that the Bitcoin community is “overwhelmingly in support” of SegWit, and was signed over twelve-thousand times.

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