Exchange and wallet service Coinbase and its professional trading platform Global Digital Asset Exchange GDAX both announced they had implemented Segregated Witness (SegWit) support for Bitcoin transactions in blog posts published Friday, Feb. 23.
In their blog pos, GDAX characterizes SegWit technology as “a critical step forward in the development of Bitcoin” and promises support for SegWit transactions will be made available to 100% of their customers “over the coming days”. Coinbase also said they would be rolling out support for all customers over the next week.
SegWit technology is designed to reduce transactions times and fees on the Bitcoin network. Many popular Bitcoin exchanges and services have been plagued network congestion from inefficient use of block space, a problem SegWit seeks to solve, resulting in widespread frustration among customers.