min to read

2019-10-03 11:16:16




News

CHANGPENG ZHAO HINTED AT ADDING SEGWIT SUPPORT BY BINANCE

CHANGPENG ZHAO HINTED THAT

min to read

2019-10-03 11:16:16

Binance CEO Changpeng Zhao hinted that soon his trading platform could add the Segregated Witness (SegWit) protocol support.

Binance CEO Changpeng Zhao hinted that soon his trading platform could add the Segregated Witness (SegWit) protocol support.

 

Developer Udi Wertheimer turned to Zhao on Twitter, noting that he would install the Binance logo on his profile for the rest of this year if the exchange implemented full SegWit support.

 

 

“How about end of q1 2020?” Zhao asked the Bitcoin developer.

 

Apparently, growing excited, Wertheimer proposed to add support for Lightning deposits by the specified time.

 

 

In response, Zhao called Wertheimer a hard negotiator, and said that SegWit and bech32 needed to be implemented first.

 

According to transactionfee.info, SegWit technology is currently involved in 54% of bitcoin transactions:

 


 

The Segregated Witness solution was activated on August 24, 2017. The protocol has eliminated a number of problems in the way of bitcoin, opening up opportunities for scaling the network including through the Lightning Network.

 

In particular, with the introduction of SegWit, the method of storing data in blocks of the first cryptocurrency was optimized, which made it possible to increase network bandwidth and eliminate the problem of transaction plasticity.

 

Let us remind that the share of SegWit transactions on the Bitcoin network in August reached a historic high of 61.93%.

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