It is good to see more Bitcoin services pay attention to SegWit. After all, this scaling solution offers quite a few benefits to Bitcoin users all over the world Changelly is known for their instant cryptocurrency operations for some time now. They also partnered with a lot of prominent companies in the cryptocurrency world. With a new update, the company fully supports Segregated Witness to reduce network fees. A more than valid change, to say the least.
Changelly is one of the few companies to fully support SegWit right now. Although this scaling solution is active for some time, not too many companies embrace it yet. That is surprising, given its potential to increase network throughput while reducing transaction fees. These fees have been one of the primary issues plaguing Bitcoin this year so far. With SegWit activating, those are all concerns of the past.
Changelly Almost Finalizes SegWit Integration
For an instant cryptocurrency exchange service, lower fees and higher throughput are an absolute must. In this regard, it is good to see Changelly be one of the first to embrace SegWit. A lot of companies still have to integrate this solution, that much is certain. It is unclear where this delay is coming from, though. Relieving most frustrations associated with using Bitcoin is of the utmost importance for service providers.
It is not entirely surprising to see the company refer to SegWit2x as well. It is a “more profound” approach to evolve the Bitcoin blockchain. Although this upgrade is not entirely necessary, it is still an intriguing concept. The current plan does not include supporting this fork come November, but that situation may still change. Not too many companies support SegWit2x right now and mining support is also dwindling. Rest assured this solution will create a major schism in the world of Bitcoin.
Changelly users have to undertake no specific action to reap the benefits provided by SegWit. More specifically, the platform only supports SegWit input transactions as of a few days ago. All network fees will decrease by as much as 50%, which is a nice touch. Output transactions for SegWit are not available yet, but that is only a matter of time. It will be interesting to see how this situation plays out for the company moving forward.
Header image courtesy of Shutterstock
