Bitfinex Trading Bitcoin

Bitfinex Commencing SegWit Scaling Improvement – Bitcoin

Bitfinex – Hong Kong-based exchange platform which is on the 4th position by trading volume among the largest processing trading places with $1.6 bln in the last 24-hours has announced yesterday, Feb 20, that it is ready to initiate the Segregated Witness or SegWit scale upgrade for Bitcoin.

Paolo Ardoino – Bitfinex CTO, was quoted in the exchange’s announcement of their SegWit upgrade saying:

“SegWit provides not only an immediate benefit for users, but also a foundation for future Bitcoin development. By supporting SegWit addresses, Bitfinex is tackling three of the biggest crypto-enthusiast concerns: transaction fees, transaction speed, and total network capacity. We are delighted that through this implementation we can provide our customers with bitcoin withdrawal fees that are up to 20 percent lower, as well as faster-than-ever transaction speeds.”

In addition, the latest Bitcoin Core client version 0.16.0 just released for public editing on Feb. 15 has also added the full SegWit upgrade.

In the same day, Coinbase has announced the very welcoming date for initiating phased rollout of the SegWit Support. The testing process and solution is concluded as time of writing so for all individuals that use the platform, they phased rollout will commence in the next few days and lets wait to see the changes.

Cointelegraph contributor Joseph Young tweeted his positive views about Coinbase’s SegWit announcement today, Feb. 21, calling it “good stuff!” and noting its significance for overall SegWit adoption on the Bitcoin network: