Luno, provider of exchange and wallet, added support for the Segregated Witness (SegWit) bitcoting solution. This is reported in the company's blog.
We already implemented SegWit on Bitcoin send transactions in December 2017. This has significantly decreased the Bitcoin network fees that you pay when you send Bitcoin. By implementing SegWit internally, Luno has managed to reduce the send fees paid by customers by over 25% already. As customers start switching over to new SegWit addresses, this will translate into a further reduction in sending fees in the coming weeks and months.
Also representatives of Luno note that SegWit-addresses begin with the number '3', while 'old' legacy-addresses start with 1.
Note that the level of decision-making Segregated Witness in the crypto community is still low. So, according to the segwit.party service, the share of SegWit transactions in the bitcoin network currently does not exceed 14%.
The company was founded in 2013 as BitX and rebranded in January 2017. Then it joined the regulatory sandbox of the UK Financial Supervision Authority. In addition to continental Europe, Luno also operates in Indonesia, Malaysia, Nigeria and South Africa.