Coinbase and its professional trading platform Global Digital Asset Exchange GDAX announced they had implemented Segregated Witness (SegWit) support for Bitcoin transactions.
SegWit technology is designed to reduce transactions times and fees on the Bitcoin network. Many popular Bitcoin exchanges and services have been plagued network congestion from inefficient use of block space, a problem SegWit seeks to solve, resulting in widespread frustration among customers.
The past week has seen several major SegWit adoption.The latest version of Bitcoin Core, which was released for public editing Feb. 15, introduced full SegWit support for the first time. On Feb. 20, the same day Coinbase said it had finished SegWit testing, major crypto exchange platform Bitfinex also announced full SegWit support for all customers.