We are happy to announce that the BTC.com wallet started to roll out Segwit!
SegWit or Segregated Witness, is the name of a soft fork that was implemented on the Bitcoin network in August, 2017. The goal of the upgrade is to improve the scalability of Bitcoin and the transaction speed. This is achieved by moving the signature to a new structure in the transaction which costs less space. This improvement allows to include more transactions in a block.
SegWit in your wallet
As BTC.com, our goal is always to let our customers benefit from the new developments in the community.
We contributed an implementation of segregated witness to the two open source bitcoin libraries used in our stack, and are pleased to see it’s usage growing within the industry.
Integrating SegWit securely into a wallet is a major technical challenge that requires lot of development effort. That’s why are proud to say that we made significant progress to add SegWit to your wallet!
As a BTC.com wallet user, you will experience a drop in the transaction fees and faster transaction times, when you send bitcoin to another address.
For our web wallet only users it will happen straight away. If you are a mobile user, please update your mobile app to the latest version.
If you have any questions or feedback, please send us an email to email@example.com.
BTC.com wallet is rolling out Segwit – goodbye high fees! was originally published in The BTC Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.