Bitcoin Core wallet now fully supports SegWit

SegWit was submitted in August last year as part of BIP 141 (a suggestion for improvement to the Bitcoin network) and had to make the Bitcoin network much more effective.

However, despite the fact that the improvement itself was adopted a few months ago, not all developers and companies have implemented it in their projects and products, including developers of Bitcoin Core wallet. The upcoming update (version 0.16.0) will finally fix this situation.

SegWit allows you to store more transactions in each block, resulting in reduced network load, higher transaction rates, and lower commissions. SegWit also allows you to implement other improvements, such as Lightning Channels – payment channels that will further increase the speed of transactions.

We can say that after the introduction of SegWit in the bitcoin Core wallet, this technology will finally become mass. Currently, only 15% of all transactions in the Bitcoin network are conducted using SegWit. With the implementation of this technology in the main wallet of the Bitcoin network, and after it became known that Coinbase – the largest cryptocurrency exchanger in the United States, too, is going to implement this technology next week, the percentage of transactions using SegWit should grow exponentially.