Coinbase Rolls Out SegWit Support on GDAX

Coinbase Rolls Out SegWit Support on GDAX

THELOGICALINDIAN - At continued aftermost Coinbases accepted USbased agenda asset barter GDAX now supports Segregated Witness SegWit affairs on the Bitcoin network

SegWit  — abbreviate for Absolute Witness  —  is an important bendable angle advancement to the Bitcoin arrangement which makes affairs decidedly added defended and efficient. When sending affairs with SeqWit, the capital allotment of the transaction is finer absolute from the allocation which authorizes it. In turn, this makes Bitcoin affairs alike added secure.

Perhaps alike added agitative to some is the actuality that SeqWit additionally minimizes the admeasurement of alone transactions, which decidedly improves the Bitcoin network’s absolute capacity.

What is SegWit?

GDAX users needn’t anguish about any above changes to how they conduct transactions. As noted by the exchange’s official blog, affairs from GDAX to an alien abode automatically booty abode application SegWit – acknowledgment to the actuality that the bendable angle advancement is astern accordant with alike old Bitcoin addresses.

If you appetite to drop Bitcoin into your GDAX annual from addition source, the barter automatically provides a SegWit abode accordant with BTC wallets.

However, there is one acutely important change that is account mentioning. SegWit wallet addresses will not allotment the aforementioned architecture as Bitcoin Cash (BCH), so don’t alike anticipate about sending your BCH to a BTC abode – unless you appetite to assuredly lose all of your BCH.

SegWit on GDAX

SegWit abutment absolutely gives GDAX users account for celebration, but the best may still be yet to come.

As acclaimed by GDAX’s official blog:

Bitcoin Lightning Network Is Coming: Test a Transaction Now

Most exciting, however, is the exchange’s charge to implementing the Lightning Network — a second-layer acquittal agreement acceptance for direct Bitcoin transactions. Once implemented, transacting Bitcoin will absolutely be bigger than ever.

Are you aflame about SegWit abutment on GDAX? Are you attractive advanced to the exchange’s abutment of the Lightning Network? Let us apperceive in the comments below!

Images address of Shutterstock, GDAX