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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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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