As adoption grows, Binance supports SegWit support for Bitcoin deposits


Binance, one of the world’s largest cryptocurrency exchanges, has backed Segregated Witness (or SegWit) for Bitcoin.BTCDeposit

Binance has officially announced that SegWit has been expanded to include Christmas cash. Protocol upgrades are initially enabled for revocation only.

Instant Effective Binance customers can transfer funds to the SegWit (bech32) address by choosing BTC (SegWit) network. Binance Explained:

“SegWit should help reduce costs,” he said. If you send an invalid address from a compatible property address, however, your funds will not be recoverable and there will always be a loss. “

Launched in 2017, SegWit upgrades the Bitcoin protocol designed to help address network scale-related bugs. SegWit a He is known for updating data on the blockchainBy separating the certificates from the named payment data. This protocol upgrade allows payments to be kept in one place.

Data from show Two-thirds of Bitcoin payments currently use SegWit. Though It has emerged as a currency instrument for storing Bitcoin valuesSome continue to argue that it interferes with adoption on a daily basis.

The Power grid Proposed as a potential layer 2 scale solution for Bitcoin as a payment protocol. Unlike SegWit, a soft fork update for the Bitcoin protocol, the Lightning Network is another layer that allows you to quickly and cheaply trade.

Despite its limited payment capabilities, Bitcoin is a true leader in the digital currency market. It Dominates over other crypto assets Recently hit one year high. According to CoinMarketCap, Bitcoin’s share of influence was 68.7%.

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