Umexbit to add SegWit support for incoming bitcoin transactions * Crypto News Today
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Cryptocurrency exchange Umexbit today announced the addition of support for Segregated Witness (SegWit) technology for bitcoin deposits. Withdrawals to bech32 addresses, indicating their SegWit compatibility, were previously available to users of the trading platform. To make a deposit via bech32 address, you must select the appropriate option in the interface of the exchange. Such addresses have the characteristic prefix “bc1”.

The SegWit update took place in the bitcoin blockchain on August 24, 2017. It increases the number of transactions per block, which, in turn, leads to lower commissions, speeds up transaction processing and generally contributes to the scalability of the first cryptocurrency.

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According to transactionfee.info, currently 67% of all bitcoin transactions use SegWit. The support of a major exchange such as Umexbit is expected to further increase their share.

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