Home Business Cryptocurrency exchange Binance has begun to support SegWit to store bitcoins

Cryptocurrency exchange Binance has begun to support SegWit to store bitcoins

by news dir

Original title: Binance, a cryptocurrency exchange, has begun to support SegWit to store Bitcoin

The world’s largest encryptioncurrencyThe official statement of the exchange Binance stated that the exchange has expanded the scope of SegWit Witness (Segregated Witness) support toBitcurrencydeposit

Segregated Witness was developed in 2017,BitcoinThe protocol upgrade is designed to help expand the network size and fix related vulnerabilities.Can be signed (constructedDealPart of the element of easy data) is separated from the transaction to increase the transaction volume that can be included in a block. Increase the speed of data processing, thereby eliminating delays in transaction approvals.

Binance stated that by choosing the BTC (SegWit) network, users can instantlyfundsTransfer to the SegWit (bech32) address. It is also reminded that if incompatible assets are sent to this address by mistake, the funds will not be recovered and will result in permanent losses.

The data shows that currently about two-thirds of Bitcoin payments use Segregated Witness.Although Bitcoin has become a store of valuecurrencyTools, but it still faces the problem of transaction expansion, and many people think that this hinders the application of Bitcoin in daily life.

In addition, as previously reported, the Lightning Network (The Lightning Network) has become another layer 2 expansion solution as a Bitcoin payment protocol.Unlike SegWit, which is a soft-fork update to the Bitcoin protocol, the Lightning Network is an additional layer that can achieve instant, low-costcostTransactions.

Despite the limited trading capacity, Bitcoin is stillDigital currencymarketUpleader. The current dominance rate of Bitcoin is 68.7%, and its dominance has reached a new high.

(Article source: TechWeb)

(Editor in charge: DF386)

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