We wanted to give our customers an update on Bitcoin Segregated Witness (SegWit) transactions: we are planning to implement SegWit in 2018. 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. 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.
Coinbase Vice President and GM, Dan Romero, announced in a blog post the company's plan to implement Bitcoin Segregated Witness (SegWit) in 2018. SegWit reduces the size of transactions, thereby improving the transaction capacity of the bitcoin network. Romero said the digital currency exchange is prioritising the secure storing of customer funds, followed by measures to ensure that the platform performs during peak periods. The firm will then focus on adding new features for customers.