Coinbase Crypto Exchange To Roll Out Long-Awaited SegWit Upgrade In ‘Few Weeks’

The Coinbase cryptocurrency exchange tweeted Monday, Feb. 5, that they will soon implement the Segregated Witness (SegWit) scalability upgrade for Bitcoin addresses, which will help reduce transaction times and fees for sending and receiving Bitcoin (BTC).

Although they are in the final stages of testing for their SegWit implementation, Coinbase reminded customers that they prioritize security and performance over new features by linking to their Dec. 2017 blog post on the topic.

Coinbase had first announced the decision to add the SegWit upgrade in early December 2017. The upgrade, introduced by the Bitcoin Core development team in August 2017, deals with the scalability problem of Bitcoin by reducing the size of transactions.

By moving the “witness” signature data to the end of every transaction, it solves Bitcoin’s malleability issue which is conducive to second-layer solutions like the Lightning Network.

Popular crypto wallets Trezor and Ledger had upgraded to SegWit shortly after its August release…

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