en
Back to the list

Coinbase finally decides to support SegWit


According to the official Twitter message of Coinbase, they are going to implement support of SegWit protocol update soon, but they did not specify what this means, instead telling to wait for a public update.

What we do know, however, is that those cryptocurrency exchanges (Coinbase is a cryptocurrency exchange, and a very large one) which supported the SegWit protocol update before its implementation or simultaneously with it gave its users an amount of Bitcoin Cash equal to the sum of bitcoins they owned during that time.

Bitcoin Cash arrived due to the hard fork of Bitcoin. One group of people in the community wanted to increase the size of the typical cryptocurrency block and make some additional changes to the protocol, others were more conservative. Since then, the community discovered that children of Bitcoin like Bitcoin Cash can be attractive to the market enough to drive out Ethereum from the second place in Coinmarketcap’s Top 3, although briefly. Some even consider Bitcoin Cash to be the real Bitcoin.

In case with Coinbase, the best course of action would be to take a wait-and-see approach: their announcement might mean they can give an equal sum of BCH to BTC holders, but this isn’t a rule. They might just implement support for Bitcoin Cash transactions.


Back to the list