One of the largest cryptocurrency brokers in Europe Anycoin Direct recently activated SegWit on their platform. Where Bitcoin is often criticized to date that the system is not scalable, the stress on the system is significantly reduced by means of SegWit.

Anycoin Direct

Anycoin Direct strives to make buying and selling Bitcoin's as easy as possible, without losing sight of the security. It uses the latest techniques to ensure that your transaction is handled correctly.

What is SegWit ?

Every transaction on the Bitcoin network is provided with a digital signature. This is necessary to check the authenticity of the transaction. A major disadvantage of this is that the signature occupies 50% of the transaction's space. SegWit places the signature of the transaction outside the "transaction block". This allows the blockchain to process more transactions per second, because more transactions can be put into one block. An important technological development for Bitcoin and cryptocurrency programs. In order to stay ahead of the competition, Anycoin Direct now also accepts bech32 addresses. The latest bitcoin core wallet update (V0.16.0) also uses these new bech 32 addresses. This makes the company the first cryptocurrency broker in Europe to add this technology.

What is Bech32 ?

Bech32 is a new Bitcoin address and the standard for SegWit transactions. Compared to the old Bitcoin addresses (Base58) it offers a number of advantages.

Features :

• The QR code is smaller
• Better protected against typing errors
• Can use 'auto completion'
• Consists of only small letters and is therefore easier to type.
• No distinction between large or small letters

News Source :

Anycoin

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