Bitcoin wallet BitGo developers report on the first SegWit transaction in the main Bitcoin network. Notably, BitGo started the updating of the software, designed to provide support for Segregated Witness, even before the activation of the protocol.
Benedict Chan, Director of Engineering at BitGo, shares the news on his social media:
— Benedict Chan (@bencxr) 25 августа 2017 г.
According to the company's report, as SegWit activates on the Bitcoin network, BitGo is to start to roll out SegWit to all BitGo wallets. The plan is to immediately launch with a few select customers while BitGo observes production operation. Assuming it works as expected for a few days, the company will release final versions of our SDK and begin rollout of SegWit to all BitGo wallets.
BitGo Web Wallet users do not need to do anything to take advantage of SegWit as it will be automatically enabled. BitGo API customers can activate SegWit at any time by upgrading their copies of BitGoJS, BitGoD, and BitGo Express once the final SegWit-activated versions are released.
BitGo support team
Among the benefits that BitGo users will receive as a result of SegWit activation, the developers highlight these two:
- BitGo’s multi-signature transactions will cost about half the fee that they used to cost prior to SegWit.
- By enabling SegWit, you will be reducing the transactional weight of your transactions on the blockchain, freeing space for other transactions and helping Bitcoin scale.