The year long civil war over how to scale Bitcoin seems to be moving towards SegWit adoption. Crypto exchanges are FINALLY starting to integrate SegWit into their daily operations with Coinbase, Bitfinex and Binance all announcing it this week via twitter.
There’s no other way to read this other than a major win for the users. Binance withdrawal fees were immediately reduced by 50% while Bitfinex’s fees were reduced by 25% with potentially more improvements on the way. Coinbase, one of the largest Bitcoin wallet providers in the world, has yet to announce implementation but all signs point to it coming soon.
The SegWit upgrade to the Bitcoin protocol attempts to reduce transaction fees and confirmation time, two things that have become a point of contention between Big Blockers and Bitcoin purists leading to huge divide in the community. With the recent announcements from industry leaders, it seems that more and more companies will begin to integrate SegWit or risk getting left behind by the industry. Coinbase initially announced SegWit in December but showed little progress in the following months leading to backlash from the community. When there CEO made some disparaging comments on Bitcoin, users started a petition urging the exchange to implement SegWit gaining over 12,000 signatures.
One of the largest remaining companies that has yet to implement the upgrade is Blockchain.info, the platform with the most online bitcoin wallets in the world. Lets see if the recent news pushes them to speed up the integration. Its been over 4 months since there last post on the topic.
One way or another upgrades are coming to Bitcon, adopt or get left behind.
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