Gemini crypto exchange, one of the most popular ones on the crypto market, has included SegWit support to its new wallet infrastructure. The Winklevoss twins revealed the new bitcoin address in an official blog post that we have in our latest cryptocurrency news below.
The Gemini crypto exchange was founded by the Winklevoss twins and they announced the support for Segregated Witness on their blog post two days ago.
SegWit is basically a scalability solution meant for the bitcoin network that was first launched in 2017. SegWit helps with the increasing block size and moving the ‘’witness’’ signature data to a whole another location. This way the malleability of the transactions in solved and the Gemini crypto exchange is among the first to use the solution.
The author of the blog post, Brian KimJonson explained that the developer team will enable SegWit addresses to be easily used for both BTC withdrawals and deposits. The Gemini crypto exchange also announced the support for transaction batching and according to Brian; they are the first to launch a full SegWit Support.
KimJohnson also pointed out that the Winklevoss twins didn’t make the decision quickly without considering it twice. He pointed out that the choice to use the native addresses was based on saving the block space as well as to follow safety measures.
The arguments go on further to promote SegWit since the segregation of digital signatures from all the transaction data will decrease about 30-40 percent less. This way the block space occupation will be decreased thus the fees will also be dramatically lower.
The Gemini crypto exchange blog post also explains that the support will enable a working ground for solutions such as the Lightning Network’s second-layer solution for the bitcoin scalability issues.
As previously reported in our altcoin news, San Francisco-based Coinbase and Global Digital Asset Exchange GDAX or better yet Coinbase Pro, also provided SegWit support for BTC transactions at the start of 2018.
Both the Gemini crypto exchange and Coinbase pro are included in the new index for 10 crypto exchanges from the Messari crypto analytics company. The Index is better known as ‘’Real 10 Volumes’’ was initially created in order to spread awareness over the fraudulent trading volume that is constantly reported by unregulated exchanges.
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Crypto Exchange Poloniex Drops 23 Pairs Due To Low Volume
‘’We will be removing 23 trading pairs on August 16, 2019, due to low volume. Note that each asset will continue to be independently tradable.’’More than half of the listed pairs are in ETH, about six are XMR pairings and the rest are stabelcoin pairs for the various obscure altcoins. Some of them include Loom Network/ USDT which has $50 traded in the past day, Status/USDT with just $157, Bancor/USDT trading only $75 per day, FOAM/USDC and the worst performing pair which is the Khyber Network/USDT. Some of the ETH pairs were popular altcoins with high volumes such as Golem, Qtum, GAS, Steem, OmiseGO and Civic but after bitcoin, Ethereum and Zcash as top pairs on the exchange, all others burst into flames. The Monero paris aside from BTC and stablecoins will also be dropped because of the low volumes. This could only be the case of falling volume on that particular exchange because the same pairs on Binance are doing really well. Compared to two years ago in 2017, the altcoin scene looked a lot different than today and many of the altcoins have now falled off the digital cliff in terms of token price regardless of other developments on the project by the respective teams. Two years ago in August, IOTA was the fifth largest cryptocurrency by market cap which was priced at $0.94 with a $2.6 billion market cap. Today as we can read in the latest cryptocurrency news, IOTA is struggling to say in the top twenty and is down by more than 75%. The Crypto Exchange Poloniex drops the pairs and we shall see if any major fluctuations will happen.
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