Gemini Soon to Offer Full SegWit Support

Gemini Soon to Offer Full SegWit Support

Gemini has announced that it now provides extensive support for Segregated Witness, better known as SegWit. The code change brought about by SegWit will allow further developments of the most popular cryptocurrencies.

The exchange is currently the largest one which has announced the rollout of the support, specifically for native SegWit addresses. According to the company’s head of communications, Carolyn Vadino, this decision was based on numerous factors, including block space savings and improved safety implementation. This move is expected to reduce waiting times and fees, as well as network congestion.

Adoption of the technology has been slow due to the amount of work involved. Gemini took the lead, however, in order to allow lightning, which is a seen as the future of Bitcoin, since it enables what is known as a layer-two technology.

Whilst the cryptocurrency exchange has already released the update throughout its network, it is expected that minor glitches and fixes will be needed. This is why they stopped short of stating that full support is already available.

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