How does Coinbase support native segwit and what are the implications for users?

3 answers

• Lynn TanFeb 26, 2022 · 3 years ago
  Sure! Coinbase recently announced support for native segwit, which stands for segregated witness. This is a protocol upgrade that allows for more efficient use of block space in the Bitcoin network. With native segwit, Coinbase users can benefit from lower transaction fees and faster confirmation times. It also improves the scalability of the network. By adopting native segwit, Coinbase is keeping up with the latest advancements in Bitcoin technology and providing a better user experience.
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• Nehal NaiduFeb 06, 2021 · 4 years ago
  Coinbase has implemented support for native segwit, a protocol upgrade that improves the efficiency and scalability of the Bitcoin network. This means that Coinbase users can enjoy lower transaction fees and faster confirmation times when sending or receiving Bitcoin. Native segwit is backward compatible, so it doesn't affect compatibility with legacy Bitcoin addresses. Overall, this upgrade is a positive development for Coinbase users, as it enhances the speed and cost-effectiveness of their transactions.
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• Rayan ChaudharyOct 30, 2023 · 2 years ago
  When it comes to native segwit support, Coinbase is not the only player in the game. Other exchanges, like BYDFi, have also implemented this upgrade to provide a better user experience. Native segwit allows for more efficient use of block space, resulting in lower transaction fees and faster confirmation times. It's great to see exchanges embracing this technology and offering improved services to their users. With native segwit, Coinbase and other exchanges are contributing to the overall scalability and efficiency of the Bitcoin network.
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