SegWit transactions are picking up speed more and more. After Coinbase and Bitfinex, one of the largest exchange offices for crypto currencies is now also implementing the technological innovation.

What is SegWit and a Bitcoin code?

SegWit (Segregated Witness) is a technical Bitcoin code approach designed to at least partially solve Bitcoin code review scaling problem. SegWit creates a larger capacity, allowing significantly more transactions to be processed per second. In addition, SegWit paves the way for the Lightning-Network, which makes it possible to send Bitcoins immediately and almost free of charge.

What are the benefits of Ethereum code?

SegWit (Segregated Witness) offers some advantages and changes to the Ethereum code. SegWit uses instead of block size, allowing blocks to be increased up to four megabytes, allowing more transactions for the network. If the utilization of the Bitcoin network remains as it is now, SegWit should result in lower fees to be paid.

Anycoin Direct uses the bech32 address format
What are bech32 addresses?
The SegWit protocol upgrade offers two new Bitcoin address formats. There are SegWit addresses that start with a 3 and SegWit addresses that start with „bc1“. The Bech32 addresses, i.e. the native SegWit addresses (bc1), use fewer characters than current addresses, and there is no longer any distinction between upper and lower case, which is of benefit to the end user.

Native SegWit at Anycoin Direct

Anyone who buys or pays out Bitcoins at Anycoin Direct* can do so via a bech32 address. But that’s not the only advantage of changing the address. The format has other advantages, such as an automatic filling function for the address or a better adapted QR code.

By activating and implementing Anycoin Direct SegWit (in the short time since Bitcoin Core 0.16.0), the popular exchange office can relieve the Bitcoin network and contribute to the success of Bitcoin.

About Anycoin Direct
Anycoin Direct is a Dutch company based in Veghel which operates a Bitcoin and crypto exchange office. The company was founded in April 2013 and operated under the name Bitplaats. In the past, Anycoin Direct concentrated mainly on the Dutch market, but today it targets the European markets.

The company’s primary goal is to provide customers with the easiest and fastest purchasing and sales process. Not only are the digital currencies sent quickly when shopping, but larger amounts of money are also transferred in the shortest possible time.