Trezor & Ledger hardware wallets to integrate SegWit

Trezor & Ledger hardware wallets are to integrate Segregated Witness
29 August 2017   748

Trezor and Ledger, the two leading hardware wallet manufacturers and developers in the Bitcoin industry, have announced the integration of Segregated Witness.

Thus, on August 24th, Ledger became the first Bitcoin wallet to support SegWit

Ledger wallet to support SegWit Ledger wallet to support SegWit

Among other benefits of the activation, Ledger emphasized that SegWit drastically improves Bitcoin’s scalability and security of hardware wallets. 

Segwit introduces the concept of block weight which changes the way the transaction size is computed by splitting the signatures in a different area — you can typically save 35% of the fee paid when sending a transaction immediately.

Ledger team

On top of that, when computing a Segwit signature, the previous transactions do not need to be processed by the device, and each input is only processed once during the signature process, leading up to a 60% time optimization in the signature process.

Ledger wallet to support SegWit Trezor wallet to support SegWit

In its turn, Trezor's announcement had also been focused exclusively on the positive effects of Segregated Witness for the company and Bitcoin wallets in general.

It might seem to be a trivial change, but the security implications are large. The lower the amount of operations the hardware wallets need to do, the lower the probability of something going awry. Moreover, with SegWit, wallets do not sign each inputs separately anymore, but first they will hash all the inputs, and then sign the hash. With this method, the amount of operations the wallets have to do is decreased, and thus the transaction creation process is sped up.

Trezor team

Thus, SegWit transactions are designed in such a way that allows hardware wallets to get rid of the verification process altogether, as SegWit transactions will include the value of previous outputs in the signature of the transaction. The wallet thus does not need to request the previous transactions nor hash them anymore, saving precious time for users, the Terezor team details.

From a hardware wallet’s perspective there is no reason to delay SegWit activation. 

Trezor team

Swansea Hosts Blockchain and Distributed Energy Conference

The BEW'18, which will be held on February 19, 2018 in Swansea, UK, is a must-attend for people who are interested in the cutting edge of blockchain
19 February 2018   239

The Blockchain Energy Wales'18 Conference will be held on February 19, 2018 in Swansea, United Kingdom.

The conference will introduce Klenergy and their Pylon Network, which is a decentralised energy exchange platform powered by renewable energy. The BEW'18 is a must-attend for people who are interested in the cutting edge of blockchain, distributed energy, peer2peer and smart technology.

BEW conference location swanseaBEW'18 Exact Location

Location: TechHub Swansea, 221 Stryd Fawr, Swansea SA1 1NW, UK
Time: from 9AM to 1.30PM

The headline speakers include Paul Harwood, Basicincome supporter and advocate, and David Clubb, director of RUKCymru and head of digital RenewableUK.

The agenda of the conference is as follows: Blockchain technology and its application in the energy sector, future of blockchain wallet systems, buildings as power stations, building the open-source co-operation protocol for the energy sector, and more.