The popular platform for instant crypto exchange, ShapeShift.io, has added support for the Segregated Witness (SegWit) protocol.
— Erik Voorhees (@ErikVoorhees) October 5, 2017
As noted in the company's blog, ShapeShift has been a strong supporter of the decision to scale the Bitcoin network, since the concept of SegWit was introduced in Hong Kong in December 2015.
According to the company, ShapeShift is "currently responsible for 2% to 3% of all Bitcoin transactions on Earth". All ShapeShift deposits are now SegWit compatible, and are subsequently respent as a SegWit transactions to other customers, meaning the platform is now one of the biggest senders and receivers of SegWit transactions.
What this means:
- Lower mining fees for ShapeShift users buying or selling Bitcoin
- Less data per transaction (increasing scale capacity of network)
SegWit transaction percantage on http://segwit.party
As shown, at the time of writing, the share of SegWit transactions in the Bitcoin network is approaching the 8% mark.
It's also worth mentioning, that the company remained silent on the SegWit2x hardfork.