Blockchain .info announced Segregated Witness support

According to the announcement of one of the most popular Bitcoin wallets, SegWit will be implemented in the 2018 Q1
16 November 2017   1040

Team of the Blockchain .info, one of the most popular Bitcoin wallet, announced that full Segregated Witness (SegWit) support will be implemented in the first quarter of 2018. Also, Bitcoin Cash support is coming in December.

SegWit protocol was activated in August this year, but a number of services and companies have not yet implemented it into their codebase. On the background of a mempool, full with spam transactions and an unprecedented growth in commissions, the representatives of the bitcoin community have recently begun to appeal to large companies like Blockchain .info, Coinbase and BitPay with questions when this happens.

The official answer of Blockchain.info was given on Wednesday, November 15, and although it talks about the upcoming support of SegWit, some points in the statement of the British company raise questions.

In 2018 we will be rolling out support for SegWit within our wallet products. This will be a major and complex update to some of the most sensitive parts of our codebase, across a wide variety of platforms and devices, affecting billions in user transactions with potentially significant privacy implications. We will do this cautiously but also with consideration for the rising miner’s fees within the bitcoin ecosystem. We are excited about the advances SegWit offers and we plan to begin making it available within our wallets in as soon as possible in 2018, with an eye towards rollout in Q1.
 

Blockchain .info Team

At the same time, the company notes a steady demand for Bitcoin Cash and plans to add full support for the altcoin. Until the end of 2017 BCH will appear in the web version of the wallet, and until the end of the first quarter of 2018 - in mobile applications for devices on Android and iOs.

Also, interesting thoughts can be found about the canceled SegWit2x. It is also worth reminding that CEO of Blockchain. info, Peter Smith was one of six supporters of SegWit2x, on behalf of whom last week a statement was issued to cancel this hardfork.

We recently communicated that our service would be unavailable during the Segwit2x hard fork. While plans for the hard fork have been suspended, there may be some network instability at block height 494,784.
We’ll be monitoring the network closely. Should network instability threaten the safety of our users’ funds, we may briefly suspend outgoing bitcoin transactions but anticipate any suspension to last no more than 1h.
 

Blockchain .info Team

 

BitPay to Receive New York's BitLicense

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers
17 July 2018   87

The well-known cryptocurrency processing service BitPay obtained a license to work with virtual currencies in the state of New York. Known also as BitLicense, this license is issued by the New York Department of Financial Services (NYDFS) and grants its holders the ability to conduct activities related to cryptocurrencies in the state.

NYDFS has carefully studied the company's application, including its policy on measures to combat money laundering, customer identification, fraud prevention, cybersecurity. The financial situation of the company was also thoroughly analyzed.

New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.
 

Stephen Pair

CEO, BitPay

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers: the first will be able to use the company's processing services to accept payments in Bitcoin and Bitcoin Cash, the latter will pay for various goods and services using these two BitPay supported cryptos.

Note that BitPay was only the eighth company that received BitLicense. Other license holders are Square, Xapo, Genesis Global Trading, bitFlyer USA, Coinbase, Ripple and Circle. In addition, special permissions for operations with crypto-currencies are exchanged by Gemini and itBit.