We wanted to give our customers an update on Bitcoin Segregated Witness (SegWit) transactions: we are planning to implement SegWit in 2018.

We are prioritizing security and performance over new features

In terms of our engineering priorities, securely storing customer funds remains our top priority. Our next priority is to ensure that our platform remains performant during periods of peak volume. Following security and performance, we are focused on adding new features for our customers.

Many of our customers have been asking for SegWit, and we’re working out a way to implement this upgrade safely. We store billions of dollars worth of bitcoin on behalf of customers and any change to our infrastructure is done with significant planning and consideration for the security and stability of our platform.

What is SegWit?

For those unfamiliar with SegWit, this upgrade helps reduce the size of transactions, which improves the overall transaction capacity of the Bitcoin network. This upgrade should also help reduce the fees customers pay on bitcoin transactions. You can read more about SegWit here.

We will share additional updates with our customers as we get closer to launching this feature.

Note: the SegWit upgrade is different than Bitcoin SegWit2x.