BTC.com, the popular wallet application from Bitmain Technologies announced today that the BTC.com bitcoin wallet has started to roll out SegWit.
Wallet users will experience a drop in the transaction fees in addition to faster transaction times when sending bitcoin to other addresses. For web wallet only users, SegWit has been implemented straight away. For mobile users, they must update their mobile app to the latest version.
Developer users who use the Blocktrail wallet can also now enable SegWit in their Blocktrail wallet.
SegWit (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.
The BTC.com team said:
“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.”