BTC.com wallet is rolling out Segwit - goodbye high fees!

We are happy to announce that the BTC.com wallet is close to fully rolling out Segwit!

SegWit or Segregated Witness, is the name of a soft fork that was implemented on the Bitcoin network in August, 2017. The goal of the upgrade is to improve the scalability of Bitcoin and the transaction speed. This is achieved by moving the signature to a new structure in the transaction which costs less space. This improvement allows to include more transactions in a block.

SegWit in your wallet

As BTC.com, our goal is always to let our customers benefit from the new developments in the community.

We contributed an implementation of segregated witness to the two open source bitcoin libraries used in our stack, and are pleased to see it’s usage growing within the industry.

Integrating SegWit securely into a wallet is a major technical challenge that requires lot of development effort. That’s why we are proud to say that we made significant progress to add SegWit to the wallet! In the first phase we have applied Segwit for change addresses only, in order to avoid that users accidentally send BCH to a Segwit address. Once we implement the new Bitcoin Cash address format, we will roll out Segwit completely. The full roll out of Segwit will happen in January, 2018.

As a BTC.com wallet user, you can already experience a drop in the transaction fees and faster transaction times, when you send bitcoin.

For our web wallet only users the change happens straight away. If you are a mobile user, please update your mobile app to the latest version.

[NOTE]: Our developer users who use the Blocktrail wallet can now also enable Segwit in their Blocktrail wallet.